IFC signs development impact deal with DEG, Proparco
The International Finance Corporation has signed an agreement with France's Proparco and Germany's Deutsche Investitions- und Entwicklungsgesellschaft (DEG) 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 Joint Collaboration Framework Agreement will help deliver needed development impact in some of the world’s most challenging settings.
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.
