This pilot project aims to reduce the financing deficit of importing and exporting companies, in emerging countries, including African nations. It has a dedicated budget of $300 million.
The International Finance Corporation (IFC) and Citibank have launched, together, a project to finance the supply chain in emerging markets. Announced yesterday, September 11, the project will allow both the IFC and Citibank to provide “innovative and affordable financing options” to essential goods’ importers and exporters across Africa. The initiative has a $300 million budget.
Citibank will, through the project, leverage IFC's expertise in emerging markets to help its clients grow their supply chains in these markets. The program is designed to bridge the financing gap for small and medium-sized enterprises (SMEs) and suppliers of essential goods.
The joint project falls under the IFC's Global Supply Chain Financing (GSCF) program, and it aims to tackle supply chain disruptions.
According to Nathalie Louat, Global Director of Trade and Supply Chain Financing at the IFC, the supply chain financing deficit is a major issue for businesses and communities worldwide, especially for SMEs, as it limits economic growth and reduces job creation opportunities.
Chamberline Moko
Camtel to launch Blue Money in 2026, entering Cameroon’s crowded mobile money market led by MTN Mo...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
West African universities met in Dakar to address youth employment Delegates drafted a 10-15 ...
DRC ends legal chaos with 20-year unified licenses for mobile giants, boosting investor security and paving the way for tech neutrality. Data...
South Africa and Mozambique sign deal to boost vocational and higher education Agreement targets skills development, qualification recognition, and...
Côte d’Ivoire, Benin, and Togo agree to create joint gas access framework Plan includes pooled LNG imports, technical working group, and World Bank...
Shell acquires 60% stake in South Africa’s Block 2C in Orange Basin Deal includes $25M bonus, funding for 3 wells worth up to $150M...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...
Mauritius recorded a 56% increase in UK Google searches for “Christmas in Mauritius” over the past three months. The island ranked fourth overall...