Member News: Proparco and IFC to collaborate on accelerating COVID-19 recovery
Member Proparco and IFC have agreed to collaborate more closely to create markets, mobilize private sector investment, and support economic recovery in developing countries in the wake of the COVID-19 global crisis.
The agreement addresses a full range of collaboration activities with an emphasis on three key areas. First, it details the approach for helping to build a pipeline of bankable and high-impact projects aimed at laying the groundwork to attract investors into developing countries. Second, it promotes greater reciprocity in project co-financing arrangements and allows IFC to join transactions originated by other development partners. Third, it underscores the importance of the “Blended Concessional Finance Principles for Private Sector Projects”, a disciplined and targeted approach to blending funds from concessional donor and commercial sources.