“IDC is one of AFD’s historical partners in South Africa. This MoU which we have just signed marks the beginning of a new journey of collaboration between us and the IDC on a range of issues which are core to AFD’s mandate. These include women entrepreneurship, climate change and the transition to a low-carbon energy economy. They are fully in line with our strategic commitments of being “100% Paris Agreement-compliant” and “100% social link” to fight inequalities and bolster social cohesion. ”, said Mr. Rioux.
“This joint collaboration as embodied in the MOU will enable the IDC to have further impact on women and youth entrepreneurship in South Africa and thus promoting IDC’s mandate of economic development in these key areas”, said Mr. Qhena.
Over the years, the AFD Group, through its private sector-focused subsidiary Proparco, has granted the IDC several credit lines to finance infrastructure projects in South Africa aimed at promoting black-owned small and medium enterprises (SMEs) in the process fostering much needed job creation efforts. In addition, the IDC and AFD also partnered together on Pan African Capacity Building Programs (PACBP), such as the African Program On Rethinking Development Economics (APORDE).
The MoU further outlines the two organizations’ willingness to continue working to support job creation and the growth of SMEs in South Africa, at the same time as venturing into new areas of growth.
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