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IFC Invests in Graphique Industrie to Support Education and Local Printing Industry in Mali


In Nairobi:
Houtan Bassiri
Phone: +254 (20) 275 9000
E-mail:
hbassiri@ifc.org

In London:
Carmen Powell

Phone: +44 207 286 5439
E-mail: cpowell@ifc.org


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 printed products.  

“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."

About IFC
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.