The Investment Climate Facility for Africa (ICF) is a financing vehicle for improving investment conditions in Africa. The ICF aims to bring about more business friendly policies, laws and regulations across Africa, and to strengthen the institutions that administer them. ICF provides a unique opportunity for the private sector to work in partnership with donors and governments to improve the investment climate in Africa.
The ICF focuses on areas where practical steps can be taken to remove constraints and problems. It supports projects such as streamlining business registration and licensing systems, reforming customs administration and taxation, and removing barriers to competition.
All projects funded by ICF must be for the benefit of the business community as a whole, broad sectors of the business (e.g. the ICT sector) or parts of the business community (e.g. SMEs). ICF does not fund any projects that are to the benefit of one particular company or small group of companies. Any government receiving ICF support and funding must have submitted to or be supportive of NEPAD's Peer Review Mechanism. ICF has received financial support from a number of corporate sponsors and donors.
ICF works in partnership with receptive African Governments and Regional Economic Communities. ICF has deliberately set out to achieve its goals within a limited lifespan, recognising that improvement is a priority for Africa's economic development and that intervention must be fast and self-sustaining. The Board of Trustees meets every three months to consider project applications, while the ICF's Investment Sub-Committee meets every six weeks. This means the maximum time for a project approval is three months.
DFID Contact: Roger Nellist
Bookmark with:
What are Bookmarks?