Africa?s campaign for private sector development got a lift from the International Finance Corporation. The World Bank?s private-sector unit launched the Private Enterprise Partnership for Africa to spur the growth of small businesses and help generate employment in various industries. It put up $37.5 million to serve as start-up capital for the new program as well as to "leverage" the support of the donor community for specific initiatives, such as those concerning infrastructure, tourism and agribusiness. The IFC said that it wants to incorporate the technical assistance efforts with its investments in the continent, which come to $400 million a year.
Source: World Bank seeks to fortify African private sector (Reuters)
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