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Article: Uganda: IFC proposes $3b fund to capitalise banks in Africa.
- Article from:
- TendersInfo
- Article date:
- November 4, 2008
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Byline: Mamta03
The World Bank s International Financial Corporation is proposing a $3 billion fund to help insulate banks in poor African countries and elsewhere from the effects of the global credit crisis, its Vice President for Africa said.The global financial meltdown has forced many western governments to inject billions of dollars to support affected financial institutions but many African countries are too poor to offer similar help to their own.
Banks in the developed world are enjoying bail outs from the governments because these governments have the money but what is going to happen to banks where governments have meagre financial resources? ...