AfDB president has talks with IFC on local currency project financing
AfDB president Donald Kaberuka had talks this week in Tunis with the Vice President of the International Finance Corporation, Mr Jingdong Hua, on joint projects in Africa between the two institutions, focusing on mechanisms for financing such projects in local currencies.
Mr Hua commented on the success of the discussions, saying: “We have had beneficial talks with Mr Kaberuka.”
The IFC’s resident representative in Tunisia, Antoine Courcelle-Labrousse, said the two institutions had a number of joint projects in the pipeline in various sectors, including the private sector, governance, energy, agribusiness, microfinance and climate change.
IFC, a member of the World Bank is the largest global development institution focused on the private sector in developing countries. It creates opportunities for people to escape poverty and improve their lives. It does so by providing finance to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development.