International Finance Corporation to issue bonds to help Africa

2012-01-19 10:56

Washington – The International Finance Corporation (IFC) said it will issue more than $1 billion (R8 billion) in local currency bonds over the next 10 years in order to support African markets.

The IFC, a member of the World Bank Group, said Ghana and eight member countries of the West African Monetary Union were participating.

Money from the bond sales will fund IFC projects that support private sector development in key areas such as infrastructure construction, and the provision of loans to small and medium-sized businesses, the IFC said.

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