Development Finance International
14 December - Guinea Bissau Publishes FPC Survey Results
Results of Guinea Bissau's survey of Foreign Private Capital flows and Investor Perceptions are now public. They will be officially released on 20 Decembre at a dissemination event which will close the country's first FPC/IP survey cycle. Detailed results and analysis can be accessed here.
7 December - DFID Review of Impact and Effectiveness of Transparency and Accountability Initiatives
Commissioned by DFID, this report aims at analysing the impact and effectiveness of the new transparency and accountability initiatives by reviewing experience in 5 main sectors of transparency and accountability work : public service delivery; budget processes; freedom of information; natural resource governance; and aid transparency.
3 December - Senegal targets private sector development in new IMF programme
Senegal's new 3-year Policy Support Instrument with the IMF includes detailed commitments to advance private sector development in several areas. It covers a restructuring and recovery plan for the energy sector, maintaining financial equilibrium in the water and sanitation sector, implementing actions on credit in the financial sector, enhancing business climate reforms, raising Senegal's Doing Business ranking, and enhancing governance.
2 December - Paris Club Reduces DRC’s Debt
The Paris Club Creditors and Brazil agreed to reduce the Democratic Republic of the Congo's debt after the country reached completion point. Under the enhanced HIPC Initiative, and with a view to encourage debt sustainability, DRC will receive a total of USD 7 350 million of debt relief. For full details, read the press release.
2 December - Concerns Over IFC Lending Through Financial Intermediaries (BWP / Eurodad)
Two papers call for a reformulation in IFC's approach to lending. Noting increasing IFC reliance on intermediaries such as banks and private investment funds, this Bretton Woods Project paper finds a lack of transparency, inadequate attention to social and environmental concerns, and failure to link directly to development impacts. This Eurodad report has found less than 20% of IFC support in LICs since 2008 went to companies from LICs, instead concentrating in 8 major projects and rich country firms. It questions the process for project selection, and motivations to invest driven by financial returns rather than LIC needs.
