AFC launches initiative to promote project development in Africa
It will support viable projects that meet the bankability tests of financiers.The Africa Finance Corporation (AFC) has launched a new initiative - which includes a think tank and a network - to promote and enable project development in Africa.
The Africa Project Developers Initiative (APDI) creates a platform that fosters continuous dialogue amongst members, standardises project development documentation, develops market benchmarks, enables knowledge transfer, leads and facilitates independent research.
The AFC hopes that this will help develop Africa’s infrastructure by encouraging viable projects that meet the bankability tests of financiers.
“There are huge opportunities for international investors in Africa if its much-needed large scale infrastructure projects are bankable. APDI will combine our experience and expertise with that of our partners to create innovative solutions to the issues inherent with project development,” said AFC's executive director Oliver Andrews in a press release.
AFC will be collaborating with partners such as FMO and IFC to have a pre-launch round table meeting in May 2016 in Lusaka during the Annual General Meetings of the African Development Bank.