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.