Active Development AidData Chinese Aid

AGTF provides $30 million loan to Dal Group Company Limited for Phase II Project (Linked to Umbrella Record ID#36104)

$30M USD

Funder	People's Bank of China (PBC)
Recipient Organization	Africa Growing Together Fund (AGTF)\|Dal Group Company Limited
Country	Africa, regional
Start Date	Nov 15, 2022
End Date	Sep 26, 2029
Duration	2,507 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`105808`

Grant Description

AGTF provides $30 million loan to Dal Group Company Limited for Phase II Project in 2022 On May 22, 2014, the African Development Bank (AfDB) and the People's Bank of China (PBOC) signed an agreement for the Africa Growing Together Fund (AGTF) (see Umbrella Record ID#36104). The purpose of this $2 billion loan facility was to finance large development projects in Africa between 2014 and 2024.

The AGTF is sponsored by the PBOC and the administered by AfDB.

Then, on November 15, 2022, AGTF approved a $30 million loan agreement (ID#5050230001051) with Dal Group Company Limited for the Phase II Project.

On the same day, the African Development Bank (AfDB) approved a $100 million loan (ID#2000230030151) for Dal Group Company Limited in support of the Phase II Project. The borrowing terms of these loans are unknown.

The purpose of the project is to support phase II of Dal Group Company Limited’s long-term investment and regional expansion program with a focus on its integrated food and agriculture operations and growing the company’s regional agro-industrial network.

📋 Staff Comments

The AfDB project identification number is P-Z1-AAG-043.
Dal Group Company Limited is recognized as a regional industrialist and has an established local and export (regional and international) market. With its regional commodity and distribution hubs the company is well positioned to further extend its outreach into new regional (East & Central Africa) and other international markets (Middle East, USA, Asia, and Europe). The market outlook for food and drink in sub-Saharan Africa is positive and the project brings the company closer to a multibillion-dollar regional Agri-Food market which provides an excellent growth potential for DAL Group especially in the wake of the AfCFTA.

📚 Sources & References

Multinational - Dal Group Company Limited (Phase II)
PROJECT Summary Note DAL Group Co. Ltd (Phase-II) Multinational Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.

All Grantees

Africa Growing Together Fund (AGTF)|Dal Group Company Limited

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