While this body will receive no public finance, it is supposed to channel private money from sponsors, foreign or French, into such activities as the mosque-building, social affairs, and the training of imams.
The alliance offers African countries public and private money (the UK has pledged £395m of foreign aid) if they strike agreements with G8 countries and the private sector (in many cases multinational companies).
His brain trust bet on opening the floodgates of foreign investment, voting to open the national oil company Pemex to private money.
Private money has been ploughed into infrastructure.
Private money has paid for some improvements.
"It substitutes public money for private money.
"You have private money lenders, you have inns, you have brothels, you have canteens," he said, adding that most North Koreans survive through a combination of foreign aid and a fledgling private economy.
It's private money being spent by a private organization".
He offered concessions to foreign private enterprises as well.
Private money would finance all the development.
