AFC agrees €149.6m loan for hydro project

The Africa Finance Corporation (AFC) has finalised a bridge loan facility worth €149.6m ($170m) for the construction of the 44MW Singrobo-Ahouaty hydropower project. The transaction closed in mid-December, when a first disbursement was made for the project, in which the AFC has also invested €24.4m equity. Construction is expected to begin before Q2.The loan is intended to fast-track construction while long-term lenders secure final credit approvals, complete documentation, meet conditions precedent and disburse funds.