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It is clear that the private sector is vital in helping to bridge the massive financing gap that stands in the way of achieving the Sustainable Development Goals by 2030.


Bank’s (BOAD) President Serge Ekué. BOAD is the common development finance institution of the member countries of the West African Monetary Union – Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. Ekué discusses the importance of the private sector in this region, particularly in supporting a recovery from the pandemic. He argues that the private sector is the main attraction for foreign direct investment in BOAD member states. Read more about this – and about how BOAD plans to work more closely with the OPEC Fund – on pages 36-37. The OPEC Fund’s Private Sector


Facility was launched in the late 1990s to promote socio-economic development through financing private enterprise and to encourage the development of local capital markets. In 2006, the organization launched its Trade Finance operations to support private enterprises and governments by facilitating the import and export of strategic commodities and capital goods. Today, the OPEC Fund as a whole has approved more than US$25 billion for development across the globe. While nearly 70 percent of its financing is provided through public sector and grant operations, 30 percent is provided through private sector and trade finance.


5 PHOTO: Alejo Miranda / Shutterstock.com


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