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Source: European Investment Bank

A new online course, free of charge for local banks and other financial institutions and aimed at increasing understanding of financial market development and inclusion, has been launched this week at the IMF/World Bank Group annual meetings in Washington DC.

A new online course, free of charge for local banks and other financial institutions and aimed at increasing understanding of financial market development and inclusion, has been launched this week at the IMF/World Bank Group annual meetings in Washington DC.

The course is the fruit of partnership between the EIB and the IMF, and is seen as crucial in helping to promote financial access and inclusive growth.

EIB Vice-President Ambroise Fayolle who is in charge of Development at the EU Bank, joined the IMF’s Chief Administrative Officer Carla Grasso to launch the course.

He said: “Financial sectors in many developing countries still lack the depth needed to play a transformative role in their economies. At the European Investment Bank, we support the development of thriving local private sectors in emerging economies including in the most fragile states in the world, via credit lines to banks, through microfinance institutions and private equity funds. But long-term risk-absorbing finance is only one part of the equation. We also need to strengthen local capacity to ensure that the impact of our interventions are even more long lasting.”

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