Release date: 10 March 2010
Promoter – Financial Intermediary
IFC Asset Management Company
Location
Description
The Africa Bank Capitalisation Fund (“The Fund”) is a USD 200 million (target). closed-end private equity fund set up as a joint IFI response to (i) address the needs of private commercial banks in Africa resulting from the difficult operating environment instigated by the global financial crisis and (ii) to prevent future crises from developing.
Objectives
The Fund will have a counter-cyclical strategy aimed at providing systemic banks with a sound core business with critically needed and stabilising capital resources and speed up the economic recovery.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to USD 40 million.
Total cost (Approximate amount)
Up to USD 200 million.
Environmental aspects
The Fund’s operational guidelines provide for environmental and social impact assessment in accordance with the Bank’s policies.
Procurement
Not applicable
Status
Signed - 16/08/2010
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).