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Finance: Africa at the 'Paris-Europlace' Forum

Video guest: Josephine Mwangi

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Tuesday, 24 July 2018

Finance: Africa at the 'Paris-Europlace' Forum

Once again this year, the Paris EUROPLACE Forum brought together many international figures such as Bruno Le Maire, the French Minister of Economy and Finance, Lorenzo Bini Smaghi, Chairman of Société Générale, Ambroise Fayolle, Vice-President of the European Investment Bank (EIB), and Jean Lemierre, Chairman of BNP-Paribas. The Forum was an opportunity for panellists to discuss financial solutions adapted to African markets. Jingdong Hua, Vice President of the International Finance Corporation (IFC), proposed issuing bonds in local currency guaranteed by the World Bank as a possible solution to accompany the continent’s still considerable investment needs. Indeed, it is estimated that “between $600 billion and $1,200 billion of investments per year will be required, over the next 20 years, to achieve the Sustainable Development Goals” (SDGs) defined by the United Nations, according to Cédric Achille Mbeng Mezui of the African Development Bank Group (AfDB).

Source: afrique.latribune.fr