Mobilising development finance: A necessity for Africa’s economic resurgence
/ 21-04-21 / Share Link
With a potential insolvency crisis looming in the autumn of 2020, leading trade finance bankers across Africa implored multilateral development banks (MDBs) to intervene decisively to boost credit availability, particularly for smaller businesses. Billions in trade financing support has been announced by development financiers, but talk is cheap: have MDBs stepped up to the challenge?
Jesuseun Fatoyinbo of Stanbic IBTC Bank, John Martin Ndawula of Africa Finance Corporation, Mubarak Abayomi Elegbede of Islamic Trade Finance Corporation (ITFC) and Moussa Toure of African Trade Insurance Agency (ATI) highlight the programmes launched to combat the crisis, assessing where developmental support is reaching those that need it, and where further work is required to mobilise crucial MDB financing.