Africa Finance Corporation seals USD 50mn loan facility.

By bne IntelliNews July 26, 2011
Africa Finance Corporation (AFC) said it has completed its maiden borrowing, a USD 50mn bilateral loan facility with Standard Bank. This marks AFC's initial step in fully leveraging its balance sheet to invest in and support the development of critical infrastructure in the power, natural resources, transport, heavy industry and telecommunications sectors, the AFC said in a statement. Standard Bank was the sole arranger, lender and agent of the facility. AFC is an African-led international financial institution, established in 2007 whose mission is to improve African economies by proactively developing and financing infrastructure, industrial and financial assets. AFC is involved as an investor, developer and financier of various infrastructure projects.

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