The Emerging Africa Infrastructure Fund (“EAIF”) was established in January 2002 and is currently a US$753.2 million debt fund, which aims to address the lack of available long-term foreign currency debt finance for infrastructure projects in sub-Saharan Africa.
EAIF offers USD and EUR lending to private companies (or soon to be privatised companies) for greenfield projects or for refurbishment, upgrade or expansion of existing facilities.
While EAIF lends on commercial terms, it aims to support projects that promote economic growth and reduce poverty, benefit broad-based population groups, address issues of equity and participation, and promote social, economic and cultural rights.
Investments with a tenor of up to 15 years can range from a minimum of US$10 million (or equivalent) to a maximum of US$30.0 million (or equivalent) for any one investment. Loans are provided without the need for political risk cover.