EAIF increases fund size to US$ 600 million
The Emerging Africa Infrastructure Fund (EAIF) has increased its funding capacity to
US$ 600 million, following the signing of a new credit line with the International Finance Corporation, African Development Bank and the Austrian Development Bank.
This is the third occasion on which EAIF has increased its capacity since its establishment in 2002 with an initial fund size of US$ 305 million. The Fund has a successful track record of financing infrastructure projects in Sub-Saharan Africa having completed 28 transactions across a range of sectors.
Commenting on the extra capacity EAIF Chairman, Tony Lea, said: “We are delighted to have the endorsement of major international finance institutions for EAIF’s project finance activities. EAIF has a strong project pipeline and the new funding will enable the Fund to continue with its mandate to support economic development in Sub-Saharan Africa.”
Frontier Markets Fund Managers (FMFM), the manager of EAIF, provided advisory support for the Fund throughout the negotiations with the new lenders. FMFM is a division of Standard Bank Plc.
(Picture to show a PIDG representative signing the agreements)