Africa Infrastructure Fund Secures $100m Loan from AfDB

• Africa Infrastructure Fund Secures $100m Loan from AfDB

In a bid to reduce the huge infrastructure financing gap in Sub-Sahara Africa, the African Development Bank (AfDB) has approved US $100 million to the Emerging Africa Infrastructure Fund (EAIF), a Public Private Partnership (PPP) company, a statement has said .

It will be recalled that EAIF granted credit facility to Indorama Eleme Fertilizer and Chemicals Ltd (IEFCL) for construction of its new US$1.2 billion fertilizer plant in Port Harcourt, River State.

Through a US$325-365 million debt raise, EAIF intends to develop the fund’s strategy of growing its loan portfolio over the next 3-5 years and to 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 US$1.2 billion in about 70 transactions.