AfDB agrees $100m loan for African infrastructure projects

Region:

Middle East & Africa

The African Development Bank (AfDB) and the Industrial Development Corporation of South Africa have signed a $100 million loan agreement to finance industrial and infrastructure projects in Africa.

This facility will support Industrial Development Corporation of South Africa in delivering on its industrial mandate.

An assessment of the previous finance facility ($200 million) indicated that collaboration between the bank and IDC resulted in the creation and retention of over 15,000 jobs in selected sectors including agro-industries, logistics, transport and other industrial infrastructure across multiple countries - Senegal, Zimbabwe, Mozambique and Swaziland, among others.

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