Ekiti To Smoothen Private Sector Engagement With IFC

Governor of Ekiti State, Kayode Fayemi, on Tuesday revealed plans of the state government to establish and strengthen private sector relationship with the International Finance Corporation (IFC), with a view to driving sustainable developments in the State.

The International Finance Corporation (IFC) is an international financial institution of the World Bank that offers investment, advisory and asset management services to encourage private sector development in developing countries.

Fayemi made the plan known while playing host to the Country Manager, IFC, Eme Essien Lore, in his office in Ado Ekiti.

The Governor identified the private sector as very key in driving the sustainability of government projects and Initiatives and assured that the State government would stand as guarantors to promising private sector entities that intend going into partnership with IFC.

He said, the idea of fostering privates sector partnership with IFC was to provide opportunities and supports for more investors to establish and drive sustainable businesses in the State.

The Governor, also disclosed that the achievement of his administration in providing key infrastructural developments that would encourage private sector businesses to thrive in the State.

Fayemi mentioned that the State Government was already in partnership development partners like the World Bank, African Development Bank, Islamic Development Bank and other agencies in building its infrastructure development.

According to him, ” if we can smoothen that path into relationship with IFC, it will also provide a relief to us to focus on development in an institutional manner while we are also encouraging private sector players to thrive”.

“We can provide guarantee for whatever they are going to do with you so that you know that they are engaged with State and the State is interested in what they are doing. The State will be there to provide necessary guarantee, for projects like our hotels and facilities management Initiatives including new ones coming on stream and that is an area we will like your expertise and support to come into play”.

The Country Manager, Eme Lore in her remarks, disclosed that the institution would invest into the private sector either by lending or by giving technical supports with a very development intention.