IFC backs African infrastructure fund
The IFC has announced a $20 million equity investment in the Africa50 Infrastructure Acceleration Fund.
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​The International Finance Corporation (IFC) has announced a $20 million equity investment in the Africa50 Infrastructure Acceleration Fund (IAF Fund), which will invest in digital infrastructure, renewable power and energy, transportation, logistics, and water and sanitation projects.
The fund aims to invest in projects across Africa, where the private sector is playing an important role supporting infrastructure development.
The fund's first close secured $222.5 million in commitments, including from 16 African institutional investors. The fund's final target close is $500 million.
"Investing in infrastructure is essential for Africa's social and economic development. This partnership with IAF will help promote and mobilise much needed equity capital for projects that will have direct positive impacts on populations across Africa, including those that focus on climate mitigation," said Sarvesh Suri, the IFC’s regional industry director for infrastructure and natural resources.
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