World Bank's IFC pledges to partner with Cameroon to boost economic growth

Source: Xinhua| 2019-07-13 08:05:41|Editor: Shi Yinglun
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YAOUNDE, July 12 (Xinhua) -- The World Bank Group's private sector lending arm, the International Finance Corporation (IFC), on Friday promised to partner with Cameroon to help enhance economic development by investing in the private sector.

Visiting IFC Vice President for the Middle East and Africa, Sergio Pimenta, who held talks with Cameroon's Prime Minster Joseph Dion Ngute in the capital Yaounde, said the lender intends to train small and medium businesses to enable them to benefit from many tenders which are being availed in various sectors of the economy.

"We have discussed about what can be done to ameliorate the economy, particularly anything related to the creation of jobs," Pimenta said.

"IFC has been very active in Cameroon, particularly supporting the energy sector. We have also been very active working with financial institutions to support small and medium companies, particularly women entrepreneurs," he added.

He said, IFC will work with the Cameroon Employers Organization to "empower the private sector."

IFC's investment in Cameroon is 113 million U.S. dollars and the financial institution operates mainly in the sectors of infrastructure, energy, financial markets, productive sectors and agriculture.