The Agence Française de Développement (AFD) signs a $100 million loan facility to support DBSA’s activity on the continent
Media Statement from the French Development Agency in South Africa and the Development Bank of Southern Africa - 17 March 2017
The Development Bank of Southern Africa (DBSA) and The Agence Française de Développement (AFD) signed on 17 March 2017 a $100 million loan facility to support DBSA’s infrastructure financing activity across Africa. This credit line will focus on DBSA’s four strategic sectors: energy, water, transport and ICT and more particularly on renewable energy and energy efficiency projects.
Building on an already long-standing relationship between AFD and DBSA, through this loan, AFD wishes to support the growth of a strategic partner for the African continent, by providing financial resources adapted to its needs, strengthening the operational partnership in the identification, prospecting and co-financing with AFD and its private sector subsidiary, Proparco, and strengthen DBSA’s capacity to integrate climate change in its financing activity. DBSA aims to continue to advance the development impact on the continent by expanding access to development finance and catalysing infrastructure investments and therefore effectively integrating and implementing sustainable development solutions.
This infrastructure financing for the rest of the continent is a new area of cooperation for AFD and DBSA and takes the partnership to a new level.
AFD’s Chief Executive Officer Rémy Rioux said: “This new credit line and expanded partnership with DBSA in favour of sustainable infrastructure financing is at the crux of our strategy in Africa. We aim to finance and exchange expertise on projects that enhance sustainable development goals.”
“The DBSA is committed to financing the continent’s infrastructure development goals. We value partnerships such as this one with the AFD to further accelerate our mandate.” Patrick Dlamini, DBSA’s Chief Executive Officer.
AFD is a public financial institution that implements the policy defined by the French Government, works to combat poverty and promote sustainable development. AFD operates on four continents via a network of 75 offices and finances and supports projects that improve living conditions for populations, boost economic growth and protect the planet. In 2016, AFD earmarked EUR 9.3bn to finance projects in developing countries. Click here to find out more about the AFD in South Africa.
The Development Bank of Southern Africa (DBSA) is a South African state-owned enterprise and a leading development finance institution working across the African continent. Established in 1983, its primary purpose is to promote economic development and growth, improve the quality of lives of people and promote regional integration through infrastructure finance and development. Click here to find out more about the DBSA.
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AFD / Mandisa Mbele, Communication Officer,