ESMID Africa

Well developed securities markets have the ability to mobilize private funds from national savings and channel them to the most productive sectors of the economy in need of local currency financing.

The Efficient Securities Market Institutional Development Initiative (ESMID) – a joint project by the Swedish International Development Cooperation Agency, IFC and the World Bank – aims to develop well functioning securities markets, in particular bond markets, to finance investments where long-term local currency funds are necessary such as housing and infrastructure.