Africa: 31 countries benefit from $ 2.4 billion invests directly granted by the IFC

During that meeting, IFC’s Director for of West and Central Africa Yolande B. Duhem said that IFC's direct investments have reached $ 2.4 billion during 2010 fiscal.
IFC officials indicated that IFC's direct investment in sub-Saharan Africa in 2010, have reached their highest amount. The witness appears in the number of countries that have benefited from this investment but also in the 116 projects funded by this WB institution. «31 countries have benefited from $ 2.4 billion investments directly granted by the IFC during the 2010 fiscal year 2010, in comparison, only 30 countries have benefited from $ 1.8 billion during the last year (2009) », according to the document provided to the press.

Senegal has benefited from this investment through five projects implemented in various fields. « (---) What is important to underline about Senegal is at first, the five projects we have funded are very innovative: there is supplying electricity to rural areas, microfinance and three projects concerning food industry and support to SMEs as well as with long-term funding and financing with trade», explained Yolanda B. Duhem, the Director of IFC’s Office for West and Central Africa.

Furthermore, when underlining performances made by African countries to improve their business environment, Ms. Duhem believes that cross-border trade and access to funding «are still unsatisfactory in many African countries». Similarly, to drain more foreign investments, those countries need to make legal reforms so as to be in line with the Rwandan model where it is possible to set up a business in three days.
IFC plans to continue in this dynamic. Thus, Ms. Duhem said during the press meeting that projects focused on education, health and energy will be a priority for the next fiscal year.

El Hadji Alassane DIALLO and Talibouya BA