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Case studies of subnational financial intermediaries in Africa

Case/country studies

Written by Astrid Haas, Gundula Löffler

Financial intermediaries are institutions, public or private, that facilitate access to capital investment finance for cities and local governments by way of creating better-than-market conditions for the debtor.

This companion piece to the ODI publication, Bridging Africa’s urban infrastructure gap: financial intermediaries for facilitating cities’ access to debt finance in Africa, provides case studies of four such institutions in Africa:

  • Development Bank of Southern Africa, a regional development finance institution with a city’s portfolio.
  • Development Fund for Local Authorities in Malawi, which was established through a partnership between the Government of Malawi and World Bank.
  • Fonds d’Equipment Communal in Morocco, Africa’s oldest subnational development bank.
  • Caisses des Dépôts et Consignations in Gabon, a type of institution that exists across several francophone African countries.

Although the case studies offer a limited snapshot of the diversity of subnational financial intermediaries, the deep dive into these four provides more general lessons and policy recommendations.