The International Finance Corporation (IFC), the private sector lending arm of the World Bank, is set to invest $2-billion in sub-Saharan Africa in the 2009/2010 fiscal year.

"Last year, we did $1.8 billion in sub-Saharan Africa," Lars Thunell, CEO of the International Finance Corporation, told Reuters following a presentation.

The World Bank forecasts growth this year of 2.5 percent for Africa and 4.1 percent for sub-Saharan Africa.

The IFC provides loans, equity and advisory services in emerging markets and also looks to draw in investment from institutional investors and sovereign wealth funds.

Reported by Reuters