The G7 Development Finance Institutions , the IFC, the private sector arm of the African Development Bank, EBRD and the European Investment Bank, have announced that they were committed to investing $80 billion in the private sector over the next five years to support sustainable economic recovery and growth in Africa.
“This investment will create jobs, boost economic growth, help tackle climate change and fight poverty. It comes at a crucial time as the continent rebuilds its economies, severely impacted by Covid-19.” David Marchick, Chief Operating Officer of U.S. International Development Finance Corporation , said: “Under President Biden’s leadership, investing more in Africa is a top priority for DFC in fulfilling our development mandate. DFC is proud to be doubling down on our commitment to Africa alongside our G7 and multilateral partners and will continue to prioritize investments in vaccine manufacturing, COVID-19 response, climate mitigation and adaptation, and gender equity on the African continent.
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