Prosper Africa, U.S. Department Of The Treasury, And The African Development Bank Sign Partnership To Enhance Credit Rating Assessments – Africa.com
ProsperAfrica, the U.S. Department of the Treasury and the African Development Bank are pleased to announce the signing of a donor contribution agreement to develop an online data platform for credit ratings. This innovative platform will improve data accuracy and transparency critical to credit rating assessments, thereby creating a more favorable investment environment between the United States and Africa.
The platform will work with Lion’s Head Global Partners to collect, classify and improve the quality of data on African economies based on credit rating agency methodologies. This effort aims to address information asymmetries and close the gap between perceived and actual investment risk across the continent.
Prosper Africa’s investment goals focus on changing investors’ risk calculations to increase capital flows between the United States and Africa. The platform will provide African sovereigns and key institutions with a self-sustaining tool to increase the availability of accurate economic data critical to credit ratings and inform fiscal and monetary policy decisions.
“We are delighted to be working with the African Development Bank and the U.S. Department of the Treasury to develop this groundbreaking platform,” said British A. Robinson, Coordinator of Prosper Africa. “By increasing data transparency and accuracy, we can unlock new investment opportunities and drive economic growth across Africa.”
The development of an online data platform for credit ratings is a critical step towards achieving the goal of a prosperous Africa. Supported by the U.S. Treasury Department, this initiative reflects the U.S. government’s commitment to strengthening economic ties with Africa.
source: prosper africa
