Equity BCDC and Proparco just signed a EURIZ 10 MEUR portfolio guarantee (denominated in USD) to support loans to small and medium-sized enterprises (SMEs) in the Democratic Republic of Congo (DRC). Just over a year after signing a first guarantee scheme for the benefits of Congolese SMEs affected by the effects of the COVID-19 crisis, Proparco and Equity BCDC are renewing their partnership.

Goma, Democratic Republic of Congo - July 3, 2023 - Nuru, one of Africa’s pioneering renewable energy-powered metrogrid companies, has announced the successful close of over $40m in Series B equity funding and anticipates the close of an additional $28m in project finance by the end of the month. The funds will enable Nuru to commence construction on 13.7 MWp of projects, which will significantly expand its existing operating assets in eastern Democratic Republic of the Congo (DRC) and help bridge the enormous energy gap in the country.

On 26 June 2023, Oxfam GB published a report into healthcare, which examines the role of development finance institutions (DFIs) and highlights shocking abuse of patients by certain establishments (in terms of quality or cost of healthcare). Based on these abuses, Oxfam has criticised DFIs for investing in the private sector via for-profit funds (private hospitals and clinics) or PPPs. We wish to commend Oxfam London for its exhaustive investigation work and aggregation of data (2010-2022), including data on older operations where we have sometimes not been involved for a number of years. Nevertheless, we deeply regret the confusion that is apparent in the report between financing of the construction of private healthcare facilities by DFIs and regulation and management of demand (i.e., healthcare financing), which is a matter for public policy. We do not agree with the findings of this report, which call for an end to the financing of private healthcare for the DFIs studied.