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    Reference: 20050319
    Release date: 10 January 2006

    Promoter – Financial Intermediary

    Tom Gibian

    CEO Emerging Markets Partnership

    2001 Pennsylvania Avenue NW, Suite 1100

    Washington DC 20006

    Location

    Description

    EMP Africa Fund II, the successor to AIG African Infrastructure Fund (Africa Fund I), will seek to support private African companies that are current or potential market leaders, have robust business plans and are managed by reputable management teams.

    Objectives

    The access to this private equity fund will encourage private initiative in infrastructure and other investments. In addition to promoting private sector growth, creating new jobs and improving the general economic situation in Africa by raising long-term financing for important infrastructure and other investments, the Fund will also highlight to investors the opportunities the African continent offers.

    Comments

    Infrastructure, financial, and natural resources.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    Up to EUR 40 million in equity.

    Total cost (Approximate amount)

    The target size of the fund is USD 500 million composed of USD 435 million in equity from limited partners and up to USD 65 million from the Overseas Private Investment Corporation (OPIC).

    Environmental aspects

    As in the predecessor fund, the Fund Managers will have to ensure that identification, analysis and supervision of Fund Investments will be carried out with due regard to ecological and environmental factors and in accordance with both local law and World Bank standards.

    Procurement

    As in the predecessor fund, the Fund Managers will have to ensure that the procurement procedures will be lawful and in line with current practice in private industry.

    Status

    Signed - 15/05/2006

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Regional - Africa Services