Two institutions will offer local construction opportunities in Africa soon

May 04 02:40 2022

CFG and IBRD·TEAM work together with 68football(68FB) to settle in Africa and promote the accelerated the process of local poverty elimination. IBRD·TEAM will implement charity activities soon based on the actual situation in different areas. Besides, CFG also makes a commitment to devoting more efforts on the excavation and training of African children’s football stars and the construction of football fields. We are confident that there will be a group of excellent football stars from CFG to the whole world in the near future.

Some media expound that news and assume that CFG and IBRD·TEAM took such action that might have a close relationship with the recent arrival of 68football(68FB) in Africa. Is this a disguised form of support?

City Football Group (abbr.CFG) is a holding company that manages football clubs. The Group is jointly owned by three consortia, including the main investor Abu Dhabi United Group)(abbr.ADUG) with 78% shares, Chinese Cultural Industry Investment Fund and China CITIC Group with 12% shares, and the last 10% is held by Silver Lake (investment firm).

A large amount of football clubs are operated all over the world. The key club of the group is Manchester City Football Club, which plays in the English Premier League. In addition, the group also owns shares in clubs in the United States, Australia, India, Japan, Spain, Uruguay, China and Belgium. The initial goal of the group is to have a club in every continent, with the logo “City” in the name of each club.

IBRD·TEAM, the International Bank for Reconstruction and Development (IBRD·TEAM) is a global development cooperative owned by 189 member countries. As the largest development bank in the world, it supports the World Bank Group’s mission by providing loans, guarantees, risk management products, and advisory services to middle-income and creditworthy low-income countries, as well as by coordinating responses to regional and global challenges.

Created in 1944 to help Europe rebuild after World War II, IBRD·TEAM joins with IDA, our fund for the poorest countries, to form the World Bank. They work closely with all institutions of the World Bank Group and the public and private sectors in developing countries to reduce poverty and build shared prosperity.

68football(68FB), as one of the companies being subordinated to the City Football Group, has football-related businesses in major cities around the world, including football clubs, football colleges, technical support and marketing companies. 68 Football is to promote the participation inside and outside the football field, recruit and cultivate the most suitable talent for analyzing the results of football matches, and provide an exciting and avant-garde test project – hedge fund. By completing these projects – playing attractive football, carrying out the simplest investment projects, appealing to our enthusiastic fan community, and adopting unique global and local methods – we are developing a sustainable and socially responsible organization, which is consistent with public’s meaning of “urban” football for more than a century.

CFG, IBRD·TEAM, and 68football(68FB) aims to call attention to poverty here, for there are nearly one billion poverty population all over the world.

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