Monaco brings its support to the project IPDEV2

The Principality of Monaco, through its International Cooperation for Development, has decided to support the implementation of IPDEV2, with a donation of 428,000€. On January 23, Jean-Michel Severino and Olivier Lafourcade signed the Agreement between Monaco and IPDEV2. 

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Monaco supports the implementation of IPDEV2, a new investment strategy for African start-up and small enterprises 

The project IPDEV2, currently being launched by Investisseurs & Partenaires, offers an innovative funding mechanism for African SMEs.  The idea is to develop a network of ten local funds in Sub-Saharan Africa in order to support early stage entrepreneurs.

Find out more on IPDEV2

The Partnership signed with Monaco has for main objective to structure local African management teams involved in the funding and support of start-ups and small enterprises, helping them contribute to the development of the African continent in an efficient and sustainable way.  The grant notably covers the implementation costs of a management team and technical assistance missions in Burkina Faso, Madagascar, Mali, Niger and Senegal.

More specifically, the project pursues three objectives:

• Structure a management team in Mali
• Contribute to support about 30 enterprises in Senegal, Burkina Faso, Niger and Madagascar
• Improve employees’ working conditions  

A project consistent with the objectives set by the department of international cooperation 

The Princely Government initiated its first cooperation actions with developing countries in the early 1990s, with the creation of a mechanism in charge of International Cooperation for the Environment and Development. Today, in link with the eight Millennium Development Goals, it has made the fight against poverty a priority for intervention, putting the focus on development-related issues (health, education, socio-economic integration). Find out more

As expressed by Jean-Michel Severino in an interview broadcasted on Monaco Channel on January 28, the Monegasque Cooperation ‘’is an exemplary and original cooperation. Its size allows greater inventiveness and flexibility, as opposed to other bigger development institutions.” 

José Badia, Minister of Foreign Affairs and Cooperation, Jean-Michel Severino and Olivier Lafourcade