IFC Expends $17Bn on Development, Entrepreneurship in Africa

IFC Expends $17Bn on Development, Entrepreneurship in Africa

ENTERPRISE54 – The International Finance Corporation (IFC), a member of the World Bank Group has revealed that it provided billions of dollars of new financing and investment mobilisation and also delivered wide-ranging advisory services in Africa in its 2014 fiscal year. Specifically, the IFC, in its results for the 2014 fiscal year stated that its

ENTERPRISE54 – The International Finance Corporation (IFC), a member of the World Bank Group has revealed that it provided billions of dollars of new financing and investment mobilisation and also delivered wide-ranging advisory services in Africa in its 2014 fiscal year.

Specifically, the IFC, in its results for the 2014 fiscal year stated that its activities impacted 1.1 million farmers, provided $17 billion of financing to entrepreneurs, delivered health services to a million patients and improved quality of education for 117,000 students.

Also, it revealed that in collaboration with other institutions of the World Bank Group, it supported agriculture and power, job creation, health, education and capital markets in the continent.

“IFC made new investments in 31 countries in sub-Saharan Africa during its 2014 fiscal year, totalling $4.6 billion. In partnership with MIGA, IFC mobilised an additional $343 million of financing for the private sector.

“IFC provided more than $4.0 million in new investments in the continent’s lowest income economies. New IFC commitments provide $800 million to countries affected by recent conflicts, including Cote d’Ivoire, Democratic Republic of Congo and Mali,” the result showed.

 

 

Adegoke Oyeniyi
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