Multinational - Africa Finance Corporation


Project Summary

Approval Date 15 Feb 2012
Signature Date 18 Oct 2012
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 141,664,128.52
Status Implementation

Project General Description

The present project consists of the opening, for the benefit of Africa Finance Corporation (AFC), of a US $ 200 million credit line (LOC) with a maturity of 10 years and a grace period of amortization of 2 years. AFC is a regional development finance institution (DFI) created in 2007 to address the financing gap for infrastructure and industries, sectors considered as underserved in terms of financing on the continent. The line of credit will finance the current portfolio of CFA projects which includes six (06) sub-projects with a total value of US $ 957 million. AFC intends to use this line of credit to partially finance its planned financial contribution of approximately US $ 215 million out of the total amount, the rest is funded by other sources, including project promoters, private equity funds, DFIs and international banking institutions.

Project Objectives

The objective of the project is to support Africa Finance Corporation (AFC) in financing its current pipeline of industrial and infrastructure projects in sub-Saharan Africa and to supplement its funding sources.

Beneficiaries

The main beneficiaries of the project are Africa Finance Corporation (AFC) and the regional member countries of the African Development Bank (AfDB).

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-Z1-HAA-041
Last Update 22 Nov 2020

Export

Contact Details

Email private-sector@afdb.org

Geographic Location

Country Multinational
Coordinates Location Name
-5.06893 39.0988 Tanga
-0.73078 36.6591 South Kinangop
-1.28333 36.8167 Nairobi
-1.4563 36.9783 Athi River
5.30966 -4.01266 Abidjan