Its Regional Vice President for Africa, Sergio Pimenta, made this clear at the end of an audience with the Minister of the Economy, Planning and Regional Development, Alamine Ousmane Mey, in Yaounde on 18 January 2024.
The meeting in Yaounde on 18 January 2024 between Alamine Ousmane Mey and Sergio Pimenta took place as part of the official visit to Cameroon by the Vice-President of the Interna- tional Finance Corporation (IFC). The visit provided an opportunity for the two personalities to continue their discussions begun at the last annual meetings of the International Mone- tary Fund (IMF) and the World Bank (WB) held in 2023 in Marrakech (Mo- rocco), during which the IFC made a commitment to extend its operations in the country. For these two perso- nalities and their respective teams, it was about identifying ways of stren- gthening the partnership with a view
to diversifying and increasing the volume of the portfolio.
In this respect, the Minister of the Economy, Planning and Regional Development (MINEPAT), after praising the IFC’s dynamic sup- port for Cameroon’s economic development efforts, welcomed the successful organisation of the “IFC- Private Sector Day”, held on 17 January in Douala. According to Sergio Pimenta, the event was “a great success, given the very high turnout and the quality of the discussions”. Above all, it enabled IFC officials and Cameroonian pri- vate sector players to identify in- vestment opportunities to be pro- moted in various sectors: energy,
digital, agro-industry, agriculture, etc.
Alamine Ousmane Mey expressed the wish to see such meetings extended to the sub-region, in or- der to take advantage of the econo- mic potential of the Central African States and support the structural transformation of our economies. In addition to the organisation of the “IFC – Private Sector Day”, Mr. Pimenta’s working visit to Came- roon was marked by meetings with the country’s senior authorities and private sector players, as well as a visit to the Nachtigal hydroelectric dam, a project to which the IFC contributed CFAF 92.3 billion out of a total of CFAF 775.2 billion. Cocoa processing The IFC is a member of the WB Group and supports the develop- ment of the private sector in deve- loping countries
Created in 1956, its role is to facilitate financing, technical assistance, and advice to private companies. Its invest- ment commitments in Cameroon amounted to around US$242 mil- lion, or some CFAF 152 billion as at 30 June 2021, for 18 operations in sectors such as real estate, where the IFC has supported the finan- cing and construction of more than 2,000 decent low-cost houses, in partnership with local companies and financial institutions.
“IFC is a WB Group ins- titution that supports private sector deve- lopment in developing countries.”
By Younoussa ABDOU
Source: Cameroun Emergent
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