The International Finance Corp. expects its investment in Africa to reach USD2 billion in fiscal year 2009-2010, The Post Online reports. But Lars Thunnell, chief executive of the World Bank’s private sector lending arm, hopes for a much bigger spending.
“In the June 2009/10 year, we will grow over USD2 billion,” Thunnell said. “We are hoping that we will also mobilise more funds. In total, we will do about USD2.5 billion.”
World Bank President Robert Zoellick, according to the Post, earlier said IFC is about to launch a USD500 million fund for developing economies and the USD200 million Africa Capitalization Fund.
