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    • News

    JBIC Invests USD50M in Currency Exchange Fund

    By Tarra Quismundo // 02 March 2010

    The Japan Bank for International Cooperation made a USD50 million investment in the Netherlands-based Currency Exchange Fund, or TCX, The Yomiuri Shimbun reports.

    The Japanese investment aims to help Japanese investors expand their businesses in Africa amid a climate of risky currency exchange fluctuations in the region. The move is part of Japan’s overall plan to aid Africa.

    The Asian Development Bank and European Bank for Reconstruction and Development have also invested in TCX. As of October 2009, their investments amounted to USD530 million.

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    About the author

    • Tarra Quismundo

      Tarra Quismundo

      Tarra Quismundo joined Devex Manila as a staff writer in October 2009 after more than six years of working as a reporter for the Philippine Daily Inquirer, a nationwide daily, for which she covered major breaking news in politics, military, police and international affairs. Tarra's Devex News coverage focuses on key Asian donors and top aid officials around the globe.

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