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Douala, September 2017, 2017
– Jingdong Hua, IFC’s Vice President and Treasurer, today ended a two-day visit to Cameroon, where he discussed with Cameroonian authorities how to scale up IFC’s engagements in the country, and the development of a capital market in the Central African Economic and Monetary Community.
Hua had working sessions with H.E the Minister Economy, Planning and Regional Development and H.E. the Minister of Finance. He also met with officials from the Douala Stock Exchange, the Financial Markets Commission, and representatives of the banking and insurance sectors. He also visited with a delegation of students from the Ecole Supérieure des Sciences Economiques et Sociales de Douala.
Hua said “Cameroon is an important market for IFC, and I thank the Cameroonian authorities for having hosted me and for the quality of the discussions I had throughout my stay. My engagements here allowed to highlight how IFC can implement its financial products and advisory services to spur inclusive development in Cameroon and in the CEMAC region.”.
In December 2016, the development community committed a record $75 billion to the International Development Association, the part of the World Bank that helps the world’s poorest countries. Of that amount, $2.5 billion are dedicated to a Private Sector Window. The PSW will allow IFC and the Multilateral Investment Guarantee Agency to reduce risks and mobilize billions more in private capital mainly to benefit Sub-Saharan African countries, including Cameroon.
IFC’s portfolio in Cameroon is $113 million. IFC engages in Cameroon mainly in the sectors of infrastructure, financial markets, productive sectors and agriculture.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit
www.ifc.org
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