The Emerging Africa Infrastructure Fund (EAIF) is the latest of 34 financial institutions from across the world to sign a Master Cooperation Agreement (MCA) with the International Finance Corporation (IFC).
Managed by Investec Asset Management, the EAIF helps finance infrastructure projects promoted mainly by private sector businesses in sub-Saharan Africa. It raises its debt capital from public and private sources, including Allianz, Standard Chartered Bank, the African Development Bank, the German development finance institution, KFW, and Dutch development bank FMO.
The fund has supported nearly 80 infrastructure projects across nine sectors in 21 sub-Saharan African countries to date.
EAIF said the MCA sets out a range of mutually agreed processes on reaching contractual agreement and allocation of responsibilities on each project. The MCA will come into operation when the IFC is the mandated lead arranger of the debt package for an infrastructure project inv