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Supporting AFC’s infrastructure project financing activity
Project
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Signature date
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Location
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Côte d'Ivoire, Senegal, Multi-country Africa
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Financing tool
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Financing amount (Euro)
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75000000
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Financing details
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EUR 75m senior loan
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Customer
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AFRICA FINANCE CORPORATION
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Type of customer
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Financial institution
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Country of headquarters
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Nigeria
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Project number
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PZZ1651
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Environmental and social ranking
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IF-A
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco is supporting a pan-African financial institution that plays a key role in covering the financing gap for critical infrastructure in Africa.
Client presentation
Africa Finance Corporation (AFC) is a multilateral financial institution governed by an inter-State treaty (34 African countries are members, along with Africa Re, AfDB and BADEA). It has a mixed share ownership, which is majority private (52%, including the banks UBA and Access Bank which are also clients of AFD Group) and public (including the Central Bank of Nigeria).
Its mandate is to provide expertise and financing to bridge Africa’s infrastructure gaps (energy, transport and logistics, natural resources, heavy industry, telecoms).
Project description
Proparco has allocated a EUR 75m senior credit line to AFC, as part of a total of EUR 150m of financing for infrastructure projects presented by the bank (roads in Côte d’Ivoire and Senegal, hydropower project in Senegal).
Project impact
The project should support 185 jobs over the next 5 years and mobilize EUR 86.25m of private finance.
The project should contribute to SDGs 7 (“Affordable and clean energy”), 8 (“Decent work and economic growth”) and 9 (“Industry, innovation and infrastructure”).