Africa Finance Corporation (AFC) has secured a US$75 million term loan facility from the Arab Bank for Economic Development in Africa (BADEA).
- •The proceeds will support AFC’s mandate to develop and finance critical power, transport and logistics, heavy industries, telecommunications and digital infrastructure, as well as mining and natural resources.
- •The collaboration builds on BADEA’s shareholder investment in 2020, and the cooperation framework signed that year to jointly develop and finance infrastructure across priority sectors.
- •The agreement was signed as part of AFC Day held during the B20 Summit in Johannesburg.
“BADEA and AFC have been strategic partners in advancing Africa’s development agenda, with a remarkable track-record of syndicated transformative projects with medium to long-term financial instruments including equity participation,” said Abdullah Almusaibeeh, President of BADEA.
