EAIF raises $385m for African infra projects

The Emerging Africa Infrastructure Fund (EAIF) has completed a $385 million round of fundraising for investment in infrastructure in Africa's most fragile economies. AfDB will provide $75 million over ten years, Standard Chartered Bank is increasing and extending its existing lending to $50 million. KFW is contributing $50 million and €75 million, both over 12 years, and FMO is lending $50 million over 10 years. In addition to these existing lenders EAIF has attracted its first commercial institutional investor with insurer Allianz financing €75 million and $25 million, both over 12 years.