European Investment Bank and International Monetary Fund join forces to boost financial inclusion in Africa
The European Investment Bank (EIB), the EU Bank and the International Monetary Fund (IMF) have signed a letter of understanding to promote sustainable economic development, financial stability and inclusive growth in Africa
Under the partnership programme, EIB will contribute with US$3.67mn to IMF economic institutions, namely the African Regional Capacity Development Centres (AFRITACs) and the Financial Sector Stability Fund (FSSF).
EIB will also launch a new course with the IMF on financial intermediation and financial inclusion. In addition, it will provide guidance to the AFRITACs and FSSF by participating in their governing bodies.
Photo courtesy of Alison Wright.