IMF, Ger­many strengthen part­ner­ship for ca­pac­ity de­vel­op­ment in Africa

Financial Nigeria Magazine - - Development -

The In­ter­na­tional Mone­tary Fund (IMF) and Ger­many's Fed­eral Min­istry for Eco­nomic Co­op­er­a­tion and De­vel­op­ment (BMZ) have strength­ened their co­op­er­a­tion on ca­pac­ity de­vel­op­ment (CD) in Africa.

Late Septem­ber, Ger­many's Min­is­ter for Eco­nomic Co­op­er­a­tion and De­vel­op­ment, Dr. Gerd Müller, an­nounced that the BMZ would sup­port the IMF's CD ef­forts in Africa with a con­tri­bu­tion of €15 mil­lion. This will make Ger­many one of the IMF's largest CD part­ners in the re­gion, bring­ing its to­tal con­tri­bu­tion to IMF CD in Africa to €30 mil­lion over the next three years.

In light of the an­nounce­ment, IMF Man­ag­ing Di­rec­tor, Chris­tine La­garde, stated that: “Un­der Ger­many's lead­er­ship, job cre­ation and poverty re­duc­tion in Africa have be­come strong pri­or­i­ties for the G20. We are pleased to deepen our part­ner­ship with Ger­many through the Fed­eral Min­istry for Eco­nomic Co­op­er­a­tion and De­vel­op­ment and to con­tinue work­ing with Africa pol­i­cy­mak­ers as they build re­silient macroe­co­nomic in­sti­tu­tions that sup­port in­vest­ment and sus­tain­able, in­clu­sive growth.”

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.