Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, is leading commercial funding for a €381.5 million package to finance engineering, procurement and construction of 186 bridges and crucially needed enhancements to Angola’s road network. AFC, acting as mandated lead arranger for the commercial tranche, has committed to invest €85 million, combining with export credit agency financing from the Export-Import Bank of the U.S. and the U.S. The signing took place at this week’s US-Africa Business Summit in Dallas, Texas, organized by the Corporate Council on Africa. AFC’s investment in the new roads project showcases the Lobito Corridor consortium partnering beyond rail to support rural transport connectivity that will serve to link communities and the larger regional corridor. The Republic of Angola has been a shareholder and member state of AFC since 2022.

Source: News Business Ethiopia May 10, 2024 12:38 UTC