|Programmes for Africa
Bretton Woods Institutions
International Monetary Fund (IMF)
In addition to providing temporary financial assistance to African countries to help ease balance of payments adjustment, the IMF is also increasingly engaged on the issue of poverty in the context of the Enhanced Highly Indebted Poor Countries (HIPC) Initiative. The IMF supports, along with the World Bank, strategies elaborated by African countries in Poverty Reduction Strategy Papers (PRSPs) to reduce poverty poverty through debt relief. The recently established Poverty Reduction and Growth Facility, which replaced the Enhanced Structural Adjustment Facility (ESAF), plays an important role in this regard.
International Finance Corporation (IFC)
The IFC is engaged in a number of activities in Africa geared towards assisting member countries in promoting indigenous enterprises, improving the investment climate through building investment institutions, and enhancing capacity.
Multilateral Investment Guarantee Agency (MIGA)
MIGA is working closely with the rest of the World Bank Group to formulate an integrated approach to private sector development. It provides hands-on support needed by African investment promotion agencies to identify, approach, and service foreign investors.
The World Bank
The Bank is engaged in lending for the medium to long-term adjustment of economies focusing on structural and financial sector, social policy reform, improved public sector resource management, reducing poverty and improving governance in Africa. In doing so, the Bank is increasingly devoting more resources to conflict prevention and the prevention and control of the HIV/AIDS pandemic. In addition to its role in the Enhanced Highly Indebted Poor Countries (HIPC) Initiative, the World Bank is also mobilizing resources for the physical and social infrastructure necessary for poverty alleviation and sustainable development. Projects range from urban poverty reduction to rural development; water and sanitation; natural resource management; post-conflict reconstruction; education; and health.
The World Trade Organization (WTO)
WTO provides technical cooperation to help African countries understand the WTO agreements and expand their capacity to use the multilateral trading system in order to advance their economic growth and meet their development objectives. In addition to its own work, it also collaborates with other international organizations in providing technical assistance to African and least developed countries .
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Office of the Special Coordinator for Africa and the Least Developed Countries
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30 July 2001