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FrançaisI&P's April Newsletter and Editorial by Bénédicte Schutz
Submitted by on Thu, 04/26/2018 - 16:09
Editorial by Bénédicte Schutz
Director of Monaco’s Department of International Cooperation
Dear friends,
In 2017, we celebrated the 15th anniversary of Investisseurs & Partenaires but also the 10th anniversary of Monaco’s development aid policy. Despite its small size - two square kilometers and 38,000 inhabitants - Monaco is now engaged in financing international development, devoting more than 1% of its public resources.
In addition to its activities in favor of health, education and economic integration in Africa, the Principality of Monaco decided in 2015 to support the project IPDEV 2, both through shareholding and grants, inspired by I&P’s pioneering spirit. Monaco’s financing is designed to increase the skills of the African investment funds as well as the targeted SMEs in several priority countries: Burkina Faso, Niger, Senegal, and Madagascar.
In Madagascar, our first country of cooperation, we were proud to attend the launch of Miarakap, the first impact investment fund dedicated to the financing and support of SMEs and start-ups in Madagascar. In this vulnerable country, the mobilization of Malagasy and international economic actors willing to take part in the impact investment gives hope for the future. We wish a successful and long life to Miarakap and the companies that will benefit from its support!
We are also pleased to support I&P’s training initiative, which benefits talented African entrepreneurs who come every year to discover impact investing. Education is, today and in the longer term, a huge challenge for the African continent. This is why we are also working with I&P to investigate the potential of an impact investment vehicle dedicated to the education sector in Africa.
In a global economy where the value chain is changing rapidly, where the services and jobs of tomorrow remain to be invented, African SMEs can play their part. They are the necessary condition – even if not sufficient – of greater human development in Africa. Monaco will continue, alongside I&P, to support them with commitment and admiration!
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About
Monaco’s Department of International Cooperation prepares and monitors the Principality's policy on international cooperation in eleven partner countries (Burkina Faso, Burundi, Lebanon, Madagascar, Mali, Mauritania, Morocco, Niger, Senegal, South African and Tunisia).
Through grants and technical assistance, Monaco supports projects with a high impact on human development: health, education, food security and socio-economic integration.
In 2018, Monaco's official development assistance increased by 15% to reach €16 million, representing more than 1% of Monegasque state revenue devoted to development cooperation.