More trouble more money: The International Financing Corporation (IFC) – the investments arm of the World Bank Group, has announced a $450 million financing package to support trade, investment, and employment in Guinea, Liberia and Sierra Leone.It says that $75 million will be used in support of the Ebola Emergency Liquidity Facility, which will help fund critical imports for Ebola-affected countries.The finance will initially go to six existing IFC client banks in the Sierra Leone, Liberia and Guinea, but may also be extended to other non-IFC client banks. This financing facility will support the import of basic goods, including energy, food and agricultural commodities, and other manufactured goods.IFC says that this private sector financing initiative will include $250 million in rapid response projects, though it did not specify which projects fall under this category and the qualification criteria.$200 million investment is also planned by IFC to support post-epidemic economic recovery, in line with the World Bank Group’s broad effort to provide immediate assistance now, and prepare for post Ebola economic recovery in the countries that are most affected by the crisis.
Posted on: Sun, 09 Nov 2014 09:25:30 +0000
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