IFC mobilizes $1.6b for Africa’s private infrastructure in 2012

The International Finance Corporation (IFC) put together an amount of $1.6 billion in investments to support private infrastructure in Africa during the year 2012.

The Corporation said the 2012 investment mobilization was more than double the amount in 2011.

The World Bank Group member has shifted its focus to expanding Africa’s ports, railways, telecoms and power, including renewable energy.

The IFC highlighted some recent successful projects in building Africa’s infrastructure.

“In Senegal, we supported private sector involvement in the Dakar Toll Road, which will greatly improve transport and trade in and around the capital. In Togo, our investment and advisory support is helping Togolese power company ContourGlobal Togo S.A. develop, build, and operate a 100-megawatt thermal power plant in the capital, Lome,” it said.

The IFC said it is also leading the way in strengthening Africa’s know-how on developing and guiding infrastructure projects in ways that achieve the right balance between private and public interests and manage environmental and social risks.

“We have successfully advised African governments, including local municipalities, on how to engage the private sector in essential public services, and on how to restructure state-owned enterprises,” the IFC said on its website.

The IFC added that its support for public-private partnerships between fiscal years 2008 and 2012 is expected to facilitate more than $175 million in private financing for infrastructure and health, and to provide improved services to 500,000 people.

By Ekow Quandzie