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Development in West and Central Africa: IFC remains committed to economic growth in the region

13/09/2023
Source : ORISHAS FINANCE
Categories: Sectors

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On Monday, September 11, 2023, a press lunch took place in Dakar between the Regional Office of the International Finance Corporation (IFC) and journalists specializing in finance, telecommunications and development. On the occasion, IFC announced its continued commitment to economic growth in the region

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IFC has invested a total of 987 million dollars in Senegal, with a significant breakdown by sector of activity, since its creation in 1966. The IFC Financial Institutions Group (FIG) department in West and Central Africa played a key role in investing more than 700 million dollars to improve access to finance for SMEs, strengthen the medical and agricultural sector, encourage housing efforts and support international trade, and job creation, which remains IFC's primary objective. Also, the infrastructure was supported with $354 million in investments. As for institutions, they received $201 million in investments, while the Manufacturing, Agribusiness and Services sector received $432 million.

IFC is also participating in the AMEF program in Côte d'Ivoire, with the objective of providing approximately $324 million in loans by 2027 to reduce the financing gap that Ivorian SMEs face.

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