{"id":472087,"date":"2021-06-15T10:06:41","date_gmt":"2021-06-15T10:06:41","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=472087"},"modified":"2021-06-15T10:06:41","modified_gmt":"2021-06-15T10:06:41","slug":"development-banks-announce-usd-80-billion-in-commitments-for-africas-private-sector","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/06\/15\/development-banks-announce-usd-80-billion-in-commitments-for-africas-private-sector\/","title":{"rendered":"Development Banks Announce USD 80 Billion in Commitments for Africa&#8217;s Private Sector"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>The International Finance Corporation (IFC), the African Development Bank (AfDB), the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) announced on June 13, 2021 on the sidelines of the summit of the G7 held in the United Kingdom, their commitment to mobilize $ 80 billion for the benefit of the African private sector over the next 5 years. The aim is to boost the economic recovery on the continent and lay the foundations for sustainable growth.<\/p>\n<p>By injecting these funds into the African private sector, these financial institutions are supported in long-term development through job creation and improved growth.<\/p>\n<p>&#8220;The institution is aware that the private sector will play a major role in financing Africa&#8217;s future by creating millions of jobs, essential to ensure sustained economic growth and poverty reduction,&#8221; said IFC Managing Director Makhtar Diop.<\/p>\n<p>As a reminder, the African economy has been severely affected by the Covid-19 pandemic. In sub-Saharan Africa, growth is expected to reach 2.8% in 2021, before accelerating to 3.3% in 2022 according to the latest World Bank forecasts. This, after a contraction of 2.4% in 2020.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The International Finance Corporation (IFC), the African Development Bank (AfDB), the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) announced on June 13, 2021 on the sidelines of the summit of the G7 held in the United Kingdom, their commitment to mobilize $ 80 billion for the benefit of the<\/p>\n","protected":false},"author":536282,"featured_media":472088,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12040,12046],"tags":[18916,15468,18915,17434,18913,18914],"class_list":{"0":"post-472087","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-international-institutions","8":"category-leaders-en","9":"tag-africas-private-sector","10":"tag-banks","11":"tag-commitments","12":"tag-development","13":"tag-development-banks","14":"tag-usd-80-billion","15":"post_format-post-format-aside","16":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Development Banks Announce USD 80 Billion in Commitments for Africa&#039;s Private Sector - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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