IFC’s Support for Africa’s Fragile States Boosted by Netherlands
The Netherlands has committed $20 million to support IFC’s advisory activities in Africa’s fragile and conflict affected situations (FCS).
The Dutch contribution, one of the largest ever made in support of IFC’s advisory work in Africa, will underpin the second phase of the Conflict Affected States in Africa Initiative (CASA). IFC launched CASA in 2008 to support SME growth, improved access to finance, and investment climate reform in FCS.
Frank Heemskerk, World Bank Group Executive Director for The Netherlands, said, “IFC through CASA has already achieved good results in fragile countries thanks to a combination of legal reforms, capacity building, and improving access to finance and markets. In its second phase, CASA will play an even larger role in the Bank Group’s efforts to promote peace and stability in fragile countries.”
Supporting development in FCS is a major pillar of the World Bank Group’s strategy to reduce extreme poverty to no more than three percent globally by 2030. Africa is home to 19 of the world’s 36 fragile and conflict affected situations.
During its first five years, CASA worked with other IFC programs and the World Bank to help facilitate $127 million in loans, train nearly 9,400 people, and advise about 1,280 public and private entities in eight countries. CASA is currently active in nine countries.
For its second phase, CASA will embed more conflict sensitivity and a greater gender focus in all its interventions, better support IFC investment activity, and broaden its knowledge management activities. CASA’s five-year budget is $100 million.
IFC’s Africa Partnership and Donor Relations team, along with the M&E and CASA teams, worked closely with the Dutch and Norwegian donor partners to develop the CASA II proposal.
IFC Vice President for Sub-Saharan Africa, Latin America, and the Caribbean Jean Philippe Prosper, said, “Our donor partners are vital to our work in Africa and their contributions to CASA reflect our mutual understanding that fragile states must be central to any strategy aimed at reducing global poverty.”
For more information on IFC's partnerships with Ireland, Norway, and the Netherlands, please visit their country pages by clicking here:The Netherlands