TLG fund secures Norfund support

Norfund has committed $10 million to the TLG Africa Growth Impact Fund II.

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Norfund has committed $10 million to TLG Africa Growth Impact Fund II.

The fund will address the credit gap in African markets by providing new loans and refinance existing bank loans to SMEs with longer repayment periods and lower interest rates. The lending is derisked by hands-on value creation work with the lender and further safeguarded for investors by leveraging bank guarantees.

Norfund joined the first close of $75 million, together with the International Finance Corporation, Swedfund, Bpifrance, and private investors.

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