The Need for Concessional Finance in Africa Post-COVID-19 and What Can Be Done by Export Credit Agencies
Mark Norris authored the article, "The Need for Concessional Finance in Africa Post-COVID-19 and What Can Be Done by Export Credit Agencies," which was published by Financier Worldwide in its April 2022 edition.
The COVID-19 pandemic had massive effects on many African countries and despite the efforts of the International Monetary Fund (IMF) and external creditors through various initiatives, African governments are left with very limited financial resources to move forward.
The article looks at how concessional finance, while not representing a single mechanism or type of financing, can provide finance on more generous terms than traditional commercial finance, with the form of such finance differing from one project to another.
It also looks at the role of Export Credit Agencies (ECAs) in such finance arrangements, how ECAs and concessional finance can be brought together and the potential for such initiatives.