The African Development Bank recently approved $100 million for the Emerging Africa Infrastructure Fund (EAIF) in a bid to help reduce the huge infrastructure financing gap in Sub-Saharan Africa.
Through a $325-365m million debt raise, the EAIF intends to grow its loan portfolio over the next 3-5 years and become a sustainable and concrete alternative to development finance institutions and commercial banks. Since its inception, the Fund has played a key role in the infrastructure landscape in Africa, investing in structuring and long-term infrastructure projects, to the tune of over $1.2 billion in about 70 transactions. The EAIF will be working closely with the African Development Bank to reinforce investments in 49 eligible countries and fragile states with a clear focus on crucial sectors for the development of the continent including power, telecommunication, transportation, manufacturing, among other sectors.AfDB approves $100mil African infrastructure loan
Dec 15, 2017 | Construction News