African Development Bank: 18 million dollars to finance sub-Saharan infrastructure

Aug 17, 2012

The InfraCo Sub Saharan Infrastructure Fund (ISSIF), which finances infrastructure in sub-Saharan Africa, will benefit from an 18 million dollars investment from the African Development Bank (AfDB).

The InfraCo Sub Saharan Infrastructure Fund (ISSIF), which finances infrastructure in sub-Saharan Africa, will benefit from an 18 million dollars investment from the African Development Bank (AfDB).

This will help the ISSIF to reach its objective of "a first closing of $100 million"
for the third quarter of 2012, which is half of its total target capitalisation, Ecofin agency reports.

"ISSIF is expected to have immediate access to quality projects and help them to get to bankability stage”, explained Mrs Tas Neside Anvaripour, the AfDB’s manager of the infrastructure finance division.

Sponsored by the World Bank, the International Finance Corporation and seven European countries brought together under the umbrella of InfraCo Limited, the ISSIF must participate in the development of transport and power infrastructure in the region.

It should help the creation of other funds for infrastructure development. This increased variety of financing sources will contribute to sub-Saharan Africa's economic growth.

The ISSIF is considered by the SDB to be the main regional alternative to private investors for the financing of infrastructure, a sector that requires 94 billion dollars a year.

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