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Posts Tagged ‘World Bank Group’

IFC Helps Bank of Africa Côte d’Ivoire Support Trade, Small Business Growth

Posted by African Press International on December 17, 2013

ABIDJAN, Côte d’Ivoire, December 17, 2013/African Press Organization (APO)/ – IFC, a member of the World Bank Group, has committed a $2 million trade finance guarantee to Bank of Africa Côte d’Ivoire and signed an agreement to provide the bank with advisory services to help it increase lending to smaller businesses in the country.

IFC’s support for BOACI will help hundreds of the bank’s small business clients gain financing to engage in cross-border trade, or to take loans to buy equipment or material for expansion. IFC’s advisory support program aims to help BOACI grow its portfolio of small business loans by 20 percent by 2016.

Lala Moulaye, Director General of the BOACI, said, “The trade finance guarantee from IFC will allow us to better support Côte d’Ivoire’s smaller importers and exporters. This partnership will help BOACI finance smaller businesses, grow its SME portfolio, and enhance its presence in international markets.”

Peer Stein, IFC Access to Finance Advisory Director, said, “IFC’s partnership with BOACI will help strengthen Côte d’Ivoire’s financial infrastructure and its small business sector, which plays a critical role in job creation and the health of the country’s economy. IFC is committed to Côte d’Ivoire’s long-term growth and our investments in the country are expected to total $250 million this fiscal year.”

IFC’s one-year advisory support program is specifically designed to help BOACI improve its market knowledge of the SME sector, roll out an SME strategy, and improve its risk management framework. IFC will also train about sixty BOACI staff on risk management and working with SMEs.

The $2 million trade finance facility, provided by IFC’s Global Trade Finance Program, will allow BOACI to establish working partnerships with a number of major international and regional confirming banks in the program, strengthening regional trade.

Although Côte d’Ivoire is one of the strongest and most diversified economies in West Africa, its smaller businesses still struggle to obtain the financing and support they need to expand or take on more employees.

IFC’s partnership with BOACI is part of its broader strategy to help Côte d’Ivoire’s smaller businesses more easily obtain financing and access training opportunities. IFC is also supporting growth in Côte d’Ivoire’s power, tourism, and agribusiness sectors and, with the World Bank, is advising the country on investment climate reforms.

 

SOURCE

International Finance Corporation (IFC) – The World Bank

 

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SUPPORT EFFORTS FOR WELL-COORDINATED SOLUTIONS

Posted by African Press International on November 10, 2013

NEW YORK, November 7, 2013/African Press Organization (APO)/ Following are UN Secretary-General Ban Ki-moon’s remarks to the National Assembly of Niger, in Niamey, 6 November:

It is a distinct privilege to address the Members of the National Assembly of Niger. It is particularly meaningful to do so with Dr. Nkosazana Dlamini-Zuma, Chairperson of the African Union Commission, and Dr. Jim Yong Kim, President of the World Bank Group. We are joined by Donald Kaberuka, President of the African Development Bank, Andris Piebalgs, Commissioner for Development of the European Union, and my Special Envoy for the Sahel, Romano Prodi.

Together, we are on a journey of solidarity with the people of the Sahel. We are here to listen — and we are here to act.

Our message is simple and clear. It is drawn from many years of experience around the world. Peace is not sustainable without development. Development is not sustainable without peace. The two challenges must go hand in hand. And so, we have come to Niger to join hands with you.

The United Nations is proud to have worked with the people of Niger over the years to forge sustainable solutions. We are teaming up to accelerate progress in achieving the Millennium Development Goals — including through the ambitious agricultural transformation plan, the 3N Initiative — Nigeriens Feeding Nigeriens.

We are committed to assisting in your efforts to advance good governance and build effective, trustworthy institutions. We are partnering to support your initiatives to expand opportunities and sustainable livelihoods, particularly for young people. We are resolved to do all we can to open doors for the women and girls of Niger — to quality schools, good jobs, safe communities, decent health care and greater political participation, including here in this parliament.

Earlier today, I was pleased to join President [Mahamadou] Issoufou’s call to action on demographic issues. I am doing my part at the United Nations to empower women. For the first time in history, five UN peacekeeping operations are led by women. I selected a distinguished daughter of Niger, Aïchatou Mindaoudou Souleymane, to head our mission in Côte d’Ivoire — one of the largest in the world. She is doing an outstanding job. I am proud of her and I know you are, too.

Niger is contributing to global peace and security in so many other ways. I pay tribute to the almost 2,000 brave Nigerien citizens serving in United Nations peacekeeping operations — from Mali to Haiti, from the Democratic Republic of Congo and beyond. I honour the memory of the 19 who lost their lives serving under the UN flag. I also appreciate Niger’s continued assistance to thousands of Malians who have taken refuge in your country.

Throughout the Sahel, we see instability and unrest, more people being displaced, rising food and fuel prices, severe drought and people sacrificing everything to migrate for greater opportunity.

I extend my deepest sympathies to the families of those who so tragically perished in the Sahara last week. Even had they survived the desert crossing, we know their journey would have remained treacherous. Their hopes for a better life may have remained simply a mirage.

Our debt to them must be a solemn commitment to prosecute the human smugglers who stole their lives, to address the food crises that plague Niger, to improve conditions in the communities from which they came so that others do not feel compelled to leave, and to create safe opportunities for willing migrants to work abroad. The United Nations is devoted to protecting human rights, and the rights of migrants are of urgent concern to me.

Across these complex and difficult challenges, the people of Niger and the Sahel are teaching the world something very important. You are proving that problems can no longer be confined within borders, and so solutions must also rise above dividing lines — across borders and bureaucracies, across communities and cultures, across politics and parties.

This is our twenty-first century test. We must dig deeper to get at the root causes of conflict. In the Sahel, those roots can be traced to scarcities of water and food, pressures on land, the lack of development and rampant insecurity. We must deal with these issues in a comprehensive way — not merely as isolated, unrelated problems of armed conflict, political instability or economic development.

That is why our United Nations Integrated Strategy for the Sahel is based on identifying crucial connections — and supporting your efforts to drive hard at them with well-coordinated solutions.

As representatives closest to the people of Niger, you are essential to success. You are the crucial link between the local and global. As part of our strategy, we are working to establish a regional platform of parliamentary committees to share experiences, discuss common challenges and define common priorities. We want to help strengthen parliaments and empower all political parties to build a culture of peace across the Sahel. We invite your active engagement.

No country or organization can do it alone. We must work together so that we hear all voices, take in all political views and build peace and stability that lasts. That is the twenty-first century test that Niger and the Sahel are putting forward to the world. Together, let us join forces and pass this test. Together, let us take strength from your great country’s motto: “Fraternité, Travail, Progrès”. Thank you.

 

SOURCE

UNITED NATIONS

 

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