- July 9, 2021
- Posted by: adminer
- Category: International
The African Development Bank (AfDB) has launched the Africa Long-Term Finance website as part of its strategy to strengthen availability of investment finance on the continent.
Mr Lamin Drammeh, Trade Finance Division Manager, AfDB said this at the opening of a webinar entitled: “Introducing the Africa Long-Term Finance Website” on Thursday.
Drammeh said the launch was as a result of a longstanding collaboration between the bank and its development partners.
The partners are Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), the UK Government’s Finance Sector Deepening Africa (FSD Africa) and the Making Finance Work for Africa (MFW4A).
“Together with these partners, the African Development Bank launched the Africa Long-Term Finance Initiative in 2017 as part of its strategy to strengthen the availability of investment finance on the continent.
“The initiative is a unique collaboration with development partners. Financial inclusion is at the top of the agenda for policy makers and the donor community and enormous progress has been made in the date of collection, financial innovation and policy formulation.”
The manager noted another area of finance that deserved greater attention was the availability of long-term finance relating to funding.
He said this was to support medium-term and long-term investments by households and governments.
He stressed the importance of long-term finance as it enabled growth and investments in key economic sectors.