AfDB, IFC plan joint African project financing in local currency

The President of the African Development Bank (AfDB) Mr Donald Kaberuka has held talks with the Vice President of the International Finance Corporation (IFC), Mr Jingdong Hua, on joint projects in Africa between the two institutions, focusing on mechanisms for financing projects in local currencies.

The meeting took place in Tunis, Tunisia last week, according to an AfDB statement March 2, 2012.

Mr Hua, according to the statement, commented on the success of the discussions, saying: “We have had beneficial talks with Mr Kaberuka.”

The IFC’s resident representative in Tunisia, Antoine Courcelle-Labrousse, said the two institutions had a number of joint projects in the pipeline in various sectors, including the private sector, governance, energy, agribusiness, microfinance and climate change.

By Ekow Quandzie