2023-10-17 04:17:46
Published on October 17, 2023 at 06:17. Modified on October 17, 2023 at 06:22.
Commitments from the International Finance Corporation (IFC), the arm of the World Bank dedicated to financing the private sector in developing countries, have increased by 30% in one year. This is what emerges from Annual Report of the IFC, the publication of which came a few days before the annual meetings of the World Bank and the International Monetary Fund which took place in Marrakech last week, a first in Africa in fifty years.
This new increase comes against a backdrop of continuous growth for decades, and reflects a trend: attracting more private funds to finance players in the commercial sector in target, developing and emerging countries. Rather than betting everything on state aid and public funds in favor of projects which have shown their limits – linked to problems of resources, governance and corruption -, the big financiers of multilateralism seem determined to initiate a virtuous circle whose key is: the mobilization of the private sector.
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