Sérgio Pimenta, IFC’s Regional Vice President for Africa, will make his first official visit to Djibouti from February 28th to March 2nd. The visit is aimed at highlighting IFC’s commitment to fast-tracking the country’s inclusive economic recovery from the impact of COVID-19 and support for job creation through increased private sector investments.
Accompanied by senior members of IFC’s leadership team for Africa, Mr. Pimenta will hold talks with senior government officials, key private sector leaders and donor partners. He will also lead discussions on ways in which Djibouti’s private sector, with IFC support, can help expand access to finance for MSMEs and access to affordable housing for the Djiboutian population.
Strengthening manufacturing and infrastructure including logistics, energy and ICT will also be a top priority on his visit agenda. Djibouti’s seaport makes the country an important regional logistics hub, and more economic gains are expected with infrastructure upgrades.
IFC’s strategy aligns with the government’s Vision 2035 development plan that seeks to boost growth and improve quality of life for Djiboutians through increased private sector investments. IFC’s investment and advisory support in Djibouti currently stands at Ksh. 1.6 billion (USD 13.7 million), supporting access to trade financing, hotel development and affordable housing.