Bamako, Mali, July 15, 2009—IFC,
a member of the World Bank Group, announced today it will provide a €7.5
million loan to Mali’s Graphique Industrie to enable the printed products
company to increase production of quality school books, contributing
to the development of a vibrant local private printing and publishing industry
in the country.
Graphique Industrie will use the IFC
loan to upgrade its machinery to increase capacity, improve quality, and
enhance environmental and social standards. IFC previously invested
in Graphique Industrie to support the company’s expansion in 2001.
The local Malian company is a major
supplier of textbooks to the Programme Décennal de Développement de
l’Education, a donor-funded government program designed to help children
gain a high-quality basic education and allow the sector to provide
the necessary human resources for the development of the country. The company
also produces notebooks, security documents, industrial packaging and other
“Graphique Industrie’s ongoing partnership
with IFC will enable us to further expand and diversify our business,”
said Aliou Tomota, Chairman and Chief Executive Officer of Graphique Industrie.
“IFC’s global expertise will be beneficial as we grow and continue to
put in place best practices relating to operations, environment, insurance
and corporate governance.”
The success of Graphique Industrie and
other printed products companies in Mali has helped reduce the import of
these goods, which has led to improved local know-how and reduced the need
for foreign exchange.
“Supporting industrial companies is
an important part of IFC’s strategy to develop the private sector and
generate sustainable economic growth in Mali,” said Yolande Duhem, IFC
Director for Western and Central Africa. "Through Industrie
Graphique, IFC is pleased to support a key education program and to contribute
to the development of children in Mali."
IFC, a member of the World Bank Group,
creates opportunity for people to escape poverty and improve their lives.
We foster sustainable economic growth in developing countries by supporting
private sector development, mobilizing private capital, and providing advisory
and risk mitigation services to businesses and governments. Our new investments
totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous
year. For more information, visit www.ifc.org.