On April 25, 2025, on the sidelines of the Spring Meetings of the International Monetary Fund and the World Bank Group, the Executive Director for Africa Group II (EDS13), Mr. Harold Tavares, joined his colleague Mr. Miguel Castro Coelho, Alternate Executive Director for Portugal and Timor-Leste, in hosting the 3rd Lusophone Forum at the World Bank.
A key highlight of the event was the signing of a $1.5 million trust fund agreement between Mr. Joaquim Miranda Sarmento, Minister of Finance of Portugal, and Mr. Ethiopis Tafara, IFC Vice President for Africa. The fund is designed to support private sector development in Lusophone Africa.
The trust fund will back initiatives under the Lusophone Compact, aimed at improving the business environment, fostering the growth of small and medium-sized enterprises, and strengthening economic resilience across six Portuguese-speaking African countries. This signature marks an important milestone in the cooperation between Portugal, IFC, and Lusophone African countries to advance inclusive and sustainable growth.
