The Investment Climate Reform (ICR) Facility works with public and private organisations in African, Caribbean and Pacific (ACP) countries to improve their investment climate so that the private sector can thrive, create decent jobs and contribute to sustainable economic transformation. This Annual Report reflects on the activities of the ICR Facility from 01 September 2023 to 31 August 2024. The ICR Facility is implemented through three Output Areas:
- Output Area 1
The ICR Facility implements interventions to improve the business environment and investment climate following requests from public and private sector organisations in ACP countries. As of 31 August 2024, 62 interventions have been completed, with 57% contributing to gender equality, with many of these with a strong focus on Women’s Economic Empowerment (WEE). 35 business reform initiatives have been instituted and/or implemented and 21 public-private dialogue processes have been strengthened as a result of our assistance also.
- Output Area 2
The ICR Facility conducts capacity development interventions for ACP national and regional development finance institutions (DFIs). As of 31 August 2024, 61 ACP DFIs benefitted from capacity building activities, including 22 that benefitted from more comprehensive tailor made support.
- Output Area 3
Knowledge products (e.g. lessons learned, best practices, peer-to-peer events, webinars, etc.) that result from the support of the ICR Facility are compiled and shared. In particular, the Facility organised the Investment Climate Reform for Women`s Economic Empowerment (ICR4WEE) Conference bringing together more than 140 stakeholders from across ACP countries.