Emerging Africa Infrastructure Fund increases fund size to US$705 million.
The Emerging Africa Infrastructure Fund (EAIF) has increased its funding capacity to US$ 705 million, following the signing of additional credit lines with the International Finance Corporation, African Development Bank, the Austrian Development Bank and KFW.
In January 2012 EAIF will mark its 10th anniversary, this is the fourth occasion on which EAIF has increased its capacity since its establishment in 2002 with an initial fund size of US$ 305 million.
The Fund has a successful track record of financing infrastructure projects in Sub-Saharan Africa having completed 36 transactions across a range of sectors.
Commenting on the extra capacity EAIF Chairman, Tony Lea, said: "We are delighted to have the continuing support of major international finance institutions for EAIF's activities. EAIF has a strong project pipeline and the new funding will enable the Fund to continue with its mandate to support economic development in Sub-Saharan Africa."
Frontier Markets Fund Managers (FMFM), advisor to EAIF, provided advisory support for the Fund throughout the negotiations with the Lender group. FMFM is a division of Standard Bank Plc.
This article was originally posted on Sustainable Development Africa Platform
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