Eritrea becomes AFC member amid funding pledge for Colluli Potash Project

In:

Mining

Region:

Middle East & Africa

The State of Eritrea has become the 24th member state of the Africa Finance Corporation.

AFC has committed to provide financing to the Colluli Mining Share Company for the development and construction of the Colluli Potash Project, in the Danakil Depression region of Eritrea.

Eritrea has experienced stable growth; driven by increased investment in the mining and extractive sectors, with an expectation to deliver an average annual GDP growth rate of circa 4%-5% between 2019 and 2024.

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