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PALOP business forum highlights tourism, energy transition and agribusiness

The International Financial Society (IFC), an institution of the World Bank, promotes a forum on Thursday and Friday in Cape Verde on business opportunities in Portuguese-speaking African countries.

: Correio da Kianda
Correio da Kianda  

Tourism, energy transition and agribusiness are the three areas highlighted in the debate spaces that feature in the final program, released this Wednesday, to take place on the island of Sal.

Investment attraction strategies, public-private partnerships and the Lusophone Compact as a financing tool make up the panels.

The IFC presents the forum as a "high-level" gathering, bringing together key private sector players, as well as investment support institutions, chambers of commerce and government representatives.

The institution has expanded its presence in Portuguese-speaking African countries over the last six years, reinforcing the range of financed projects.

The IFC is part of the Lusophone Development Compact, a 400 million euro financial guarantee fund for investments in the PALOP (Angola, Cape Verde, Guinea-Bissau, Equatorial Guinea, Mozambique and São Tomé and Príncipe), in a partnership between Portugal and the African Development Bank (ADB).

"We joined the compact in a second phase, when it had already been launched by the AfDB, (...) to bring our experience and our desire to do more for Portuguese-speaking countries", said Sérgio Pimenta, vice-president of the IFC, in an interview with Lusa, last year.

As a driving force behind private investment, with a view to promoting development, the IFC presents itself as a driver of companies for new projects, even if, in some countries, the risks are increased.

"If governments have limited capacities, we have to find alternatives and the most logical source of financing is the private sector" which needs "favorable investment conditions", which the institution seeks to create, concluded Sérgio Pimenta.

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