Active Development AidData Chinese Aid

China Eximbank provides $300 million loan to Africa Finance Corporation for general corporate purposes

$300M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Africa Finance Corporation (AFC)
Country	Africa, regional
Start Date	Oct 01, 2018
End Date	Jun 16, 2026
Duration	2,815 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`89501`

Grant Description

China Eximbank provides $300 million loan to Africa Finance Corporation for general corporate purposes In October 2018, China Eximbank and the Africa Finance Corporation (AFC) signed a $300 million loan agreement with two tranches for general corporate purposes: a $200 million tranche with a 5-year maturity and a $100 million tranche (stand-by facility) with a 5-year maturity.

According to AFC, the loan facility will provide it with medium-term liquidity and contingent funding support, which is important for liquidity risk management. It will also open up other financing and relationships with Chinese institutions.

📋 Staff Comments

1. Africa Finance Corporation is a pan-African Multilateral Development Financial Institution established in 2007 by sovereign African states to provide pragmatic solutions to Africa's infrastructure deficit and challenging operating environment.

📚 Sources & References

AFC secures $300 million loan facility from Export-Import Bank of China
AFC acquires inaugural US$300 million facility from Export-Import Bank of China
AFC acquires inaugural US$300 million facility from Export-Import Bank of China 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 Finance Corporation (AFC)

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