The commitments of the International Finance Corporation (IFC), the arm of the World Bank dedicated to financing the private sector in developing countries, increased by 30% in one year. It follows that Annual report The IFC, whose disclosure came days before the annual meetings of the World Bank and the International Monetary Fund held in Marrakesh last week, for the first time in Africa in fifty years.
This new increase comes on the back of continuous growth for decades and reflects a trend: attracting more private funds to finance commercial sector players in target, developing and emerging countries. It seems that the big financiers of multilateralism, instead of betting everything on state aid and public funds in favor of projects that have shown their limits – linked to problems of resources, governance and corruption – have been determined to start a virtuous circle, the key of which is mobilization private sector.
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