ArabFinance: The Facility Investing for Employment (IFE) announced March 30th that it would provide joint financing worth up to €10 million to each project that offers job opportunities in African emerging markets, according to an emailed press release.

This comes as part of a plan to support investment projects with the aim of expanding or starting new projects in the emerging markets within Africa, particularly in Egypt, Tunisia, Côte d'Ivoire, Ethiopia, Ghana, Rwanda, and Senegal.

Through this move, the facility targets bolstering investments in the African emerging markets to create new job opportunities in the private sector and encourage companies to face various challenges such as weak infrastructure and inefficient energy, water, and road networks.

It is worth noting that the IFE is an investment mechanism created by KfW Development Bank on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) as an integral part of the Special Initiative on Training and Job Creation.

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