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Tuesday, 08 June 2010

Launching of the African Financing Partnership

 8 development finance institutions, who last year invested over USD 8.8 billion in projects across the continent, formally launched the African Financing Partnership (AFP). This collaboration will enable greater cooperation and co-financing, and work towards improving joint assessment and evaluation of private sector projects across the continent. This marks a significant development for effective use of donor resources in Africa and aim to attract greater private sector investment for private sector projects on the continent with strong development outcomes. The eight participating institutions with strong experience of operating in Africa are the African Development Bank; Development Bank of Southern Africa; Deutsche Investitions-und Entwicklungsgesellschaft (DEG); European Investment Bank; Netherlands Development Finance Company FMO; Industrial Development Corporation of South Africa; IFC, a member of the World Bank Group; and Proparco.

Source: European Investment Bank