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Proparco is supporting a pan-African institution specialized in infrastructure financing with DEG and FMO
Project
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Signature date
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Location
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Multi-country Global, Nigeria
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Financing tool
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Financing amount (Euro)
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42158516,02
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Financing details
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USD 50m 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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PZZ1524
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Environmental and social ranking
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A
This information is given at the time of signature, without prejudice to any developments in the operation/project.
By supporting a major pan-African institution, Proparco is contributing to the development of infrastructure projects in Africa.
Client presentation
Africa Finance Corporation (AFC) is a pan-African financial institution operating in over 30 African countries. It is specialized in infrastructure financing in the energy, transport, mining and hydrocarbon production, telecommunications and heavy industry sectors. Since it was set up, AFC has been playing a W5:Y5key role in covering the financing gap for critical infrastructure in Africa.
Project description
The syndication is led by DEG, with Proparco participating via a USD 50m senior credit line. The total amount alongside DEG and FMO stands at USD 170m. The financing allocated aims to increase AFC’s resources for the growth in its portfolio in Africa, excluding oil, gas and coal projects.
Project impact
This project should support more than 180 jobs over the next 5 years, mainly in the companies financed by AFC through Proparco’s commitment.
The project will thereby contribute to SDG 8 (Decent work and economic growth), SDG 9 (Industry, innovation and infrastructure) and SDG 17 (Partnerships for the goals).