Brussels, 03/06/2010 (Agence Europe) - Eight development finance institutions, which last year invested over US$8.8 billion in projects across the continent, have formally launched the African Financing Partnership. This collaboration will enable greater cooperation and co-financing, and work towards improving joint assessment and evaluation of private sector projects across the continent. The EIB says that this marks “a significant development for effective use of donor resources in Africa and aim to attract greater private sector investment for private sector projects on the continent with strong development outcomes”. Other than the EIB, the participating institutions are: the African Development Bank; Development Bank of Southern Africa; Deutsche Investitions-und Entwicklungsgesellschaft (DEG); Netherlands Development Finance Company FMO; Industrial Development Corporation of South Africa; IFC, a member of the World Bank Group; and Proparco. (O.L./transl.rt)