KfW loan for AFC

Africa Finance Corporation (AFC) on 22 June signed a $150m 15-year loan facility from KfW Development Bank. The funds will be used to refinance projects across the corporation’s current and prospective member states in several of AFC’s priority investment sectors: power, telecommunications, transport and heavy industries. “Not only will this loan facility from KfW add valuable capital to our finance reserves but the 15-year tenor period is particularly suited to funding the long-term, large-scale infrastructure projects that are so needed across Africa,” said AFC president and chief executive Andrew Alli.