EIB, IMF join forces to build capacity on financial inclusion and stability in Africa

The European Investment Bank (EIB), the EU Bank, and the International Monetary Fund (IMF), have signed a Letter of Understanding to pool their expertise and experience to promote sustainable economic development, financial stability and inclusive growth in Africa. The EIB will contribute with EUR 3m to IMF economic institutions, namely the African Regional Capacity Development Centers (AFRITACs) and the Financial Sector Stability Fund (FSSF), and will launch a new course with the IMF on financial intermediation and financial inclusion. As well as funding, the EIB will provide guidance to the AFRITACs and FSSF by participating in their governing bodies.

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