Proparco re-invests in frontier currency guarantee fund TCX

Proparco re-invests in frontier currency guarantee fund TCX

The “Currency Exchange Fund”, initiated by several European development institutions and governments and with a capital of $1.1 billion, has seen its currency operations in sub-Saharan Africa double by 2021. It works solely in support of institutions.

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            ▪ Proparco re-invests in frontier currency guarantee fund TCX

▪ The “Currency Exchange Fund”, initiated by several European development institutions and governments and with a capital of $1.1 billion, has seen its currency operations in sub-Saharan Africa double by 2021. It works solely in support of institutions.

https://www.africabusinessplus.com/en/813355/proparco-re-invests-in-frontier-currency-guarantee-fund-tcx/

A French addition to TCX or Currency Exchange Fund, the fund specialises in guaranteeing via futures and swaps the risk of “frontier” currencies and works exclusively with development finance institutions (DFIs) to secure their operations in local currencies or to enable them to lend in these same currencies.

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