Wednesday, 24 June 2015

IFC INAUGURATE LONDON HUB, TARGETS NIGERIA AND OTHERS








The International Financial Corporation, a member of the World Bank Group, says it has opened an IFC treasury hub in the city of London that will expand its capital market activities in Africa, Europe, and the Middle East.
The IFC treasury provides core treasury services to the institution; raises capital for its liquidity and operational needs; offers treasury solutions to address the financing needs of the IFC clients – private sector companies in developing countries; and supports capital market development in emerging markets, according to a statement by the corporation.
Until now, IFC has managed its treasury activities out of the institution’s headquarters in Washington DC, United States.
The United Kingdom Economic Secretary to the Treasury, Harriet Baldwin, said, “Britain is home to some of the most important and successful financial firms on the planet, benefitting businesses and working people across the country.
We are committed to maintaining our position as a global financial center and so I am delighted that the International Finance Corporation has decided to establish a treasury hub in London.
That IFC treasury has chosen to base itself here recognises the key role Britain’s financial firms and markets play in channeling sustainable finance to emerging markets, said Harriet.
The Policy Chairman of the City of London, Mark Boleat, expressed delight that the IFC had chosen London as the location for its EMEA treasury hub, adding that it would add to the IFC’s already “impressive record in the region and globally.”
He said, “The City has worked closely with IFC for over the past year to make this a reality and we look forward to continuing to support the IFC as it grows its presence in the capital.”

Henry J Williams

Author & Editor

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