The Africa Finance Corporation (AFC) announced on Friday the signing of a €381.5-million financing package for road transport infrastructure development in Angola. The AFC, founded in 2007, serves to catalyse private sector-led infrastructure development across Africa. This latest financing package will fund the engineering, procurement and building of 186 bridges for, plus other essential enhancements to, Angola’s road network. The AFC was mandated to be the lead investor for the commercial tranche of the package, and has committed itself to contribute €85-million to the total. Export credit financing for the construction programme is being provided by the US Export-Import Bank and the US Private Export Funding Corporation. The key role of coordinating and structuring bank is being fulfilled by Standard Chartered Bank.
