KfW IPEX-Bank and Africa Finance Corporation sign Infrastructure Financing Agreement amounting to USD 300 million

Germany’s KfW IPEX-Bank and Africa Finance Corporation (AFC) have signed a Framework Financing Agreement (Basic Agreement) amounting to USD 300 million. The facility will be accessible to infrastructure projects in Africa, developed by AFC, by providing long-term financing of European equipment and services imported for such projects. The Basic Agreement helps to address Africa’s infrastructure development needs while also supporting German and European exporters.

Projects that will be financed under the Basic Agreement will be covered by guarantees from European Export Credit Agencies (ECAs).

AFC is an African-led multilateral development finance institution, established in 2007, with a mission to improve African economies by proactively developing and financing infrastructure, industrial and financial assets.