Global development finance coalition commits over USD 5.5 Billion for MSMEs financing in Africa

Photo: AGRA

The coalition for a sustainable and inclusive recovery of the private sector, an international group of 20 development finance institutions that came together in 2020, last week announced commitments of over $5.55 billion of financing to small and medium size enterprises (MSMEs) in Africa between mid-2020 and end of 2021, beating their set target of $4 billion over the period.

The coalition said it had exceeded its initial target by 40 percent, while development finance institutions jointly committed over $5.55 billion of financing of MSMEs in Africa over the period.

This article was originally published by FinDevGateway.