IFC Managing Director Makhtar Diop has concluded his four-day visit to Kenya and Tanzania. During his visit, Diop confirmed to senior public and private sector partners that IFC will expand its commitments in East Africa to support a stronger private sector, help build regional value chains, and speed up economic recovery from COVID-19.
The visit was Diop’s first to Kenya and Tanzania in his role as IFC Managing Director and focused on expanding IFC’s support for sectors crucial to sustainable, inclusive growth. This is including healthcare, manufacturing, digital technology, housing, agribusiness, and renewable energy.
While in Kenya, Diop met with HE President Uhuru Kenyatta to discuss the country’s economic reform and growth agendas and how IFC can best support its vibrant private sector. In Tanzania, he met with HE President Samia Suluhu Hassan to discuss IFC’s programs in the country, strengthening Tanzania’s agriculture and manufacturing sectors, among others.
During a meeting with government and private sector representatives from Kenya’s health sector, Diop discussed IFC’s support for helping build Kenya into a pharmaceutical production hub. This is in a bid to alleviate reliance on imports and strengthen the country’s and the region’s response to COVID-19 and future health crises. Diop also sat down with leaders developing and funding affordable housing.
“I was glad to be back in Kenya and Tanzania, countries that I know well, and to sit down with partners to discuss the good progress they are making toward a sound economic recovery, but also the big challenges that lie ahead. A renewed focus on strengthening trade, supply chains, and public-private dialogue will help the region achieve the inclusive growth that’s needed. Africa is the fastest-growing region in IFC’s portfolio, and we are committed to providing even more investment and advisory support during these critical times,” Diop said.