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IFC to spend up to USD 400 mln on Africa ICT

Thursday 10 November 2011 | 15:12 CET | News
The International Finance Corporation (IFC) plans to spend up to USD 300 million in the financial year ending June and another USD 400 million in the following year on new African telecommunication projects that are not commercially attractive to traditional financiers, Reuters reports. Kent Lupberger, IFC's global head for Technology, Media and Telecom, said the IFC would be looking to do USD 200-400 million a year for its own account in Africa and help mobilise funding from other sources such as commercial banks and other development institutions to double or triple that amount. The private

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Categories: General
Countries: Africa
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