Virtual Launch for the Cordaid Co-investment Project in West Africa
The USAID-funded West Africa Trade & Investment Hub Activity, in partnership with the U.S. International Development Finance Corporation (DFC), launched its co-investment partnership with Stichting Cordaid, managed by Cordaid Investment Management B.V., yesterday at a virtual launch.
The partnership is to increase access to finance by small and medium-sized enterprises (SMEs) and microfinance institutions (MFIs) in Burkina Faso, Guinea, Mali, and Sierra Leone. Through Cordaid’s West Africa Bright Future Fund, the co-investment partnership will generate up to $37 million of new private investment into these countries to support local economies, create over 20,000 direct and indirect jobs, and increase the value of exports by $30 million over the duration of the activity.
The launch was anchored by the Nigerian-American chamber of Commerce.