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The Infrastructure Fund (IF), a ring-fenced division at the Development Bank of Southern Africa (DBSA) and Agence Française de Développement (AFD) launched a new partnership on Tuesday 12 April 2022 at the French Embassy in Pretoria. The Infrastructure Fund will benefit from €600,000 (R 9 5 million) in financial support from AFD.
The 3-year agreement will reinforce the capacity of the Infrastructure Fund of the DBSA through the recruitment of a Project Finance Expert, intellectual knowledge exchanges of experiences, and exposure to international practices regarding infrastructure development. The Project Finance Expert will fully integrate into the Infrastructure Fund team later this year.
“France is truly committed will to answering President Ramaphosa’s call for more foreign investment in the South African economy. During the State visit by President Macron last year, both leaders reaffirmed the importance and strength of the bilateral trade and investments between our two countries. The Infrastructure Fund is key in the new approach of the South African government to finance infrastructure projects, and France is happy to lend its support to this initiative”, said Ambassador of France to South Africa, Mr Aurélien Lechevallier.
This partnership will contribute to the realization of the Infrastructure Fund’s objective of driving socio-economic development, by accelerating and scaling-up catalytic infrastructure financing and implementation. “We are excited by this partnership with AFD. It will go a long way in enhancing the IF’s capability to structure innovative blended finance solutions”, said Mr Mohale Rakgate, Chief Investment officer of the Infrastructure Fund.
Press contacts:
- AFD - Southern Africa Regional Office: Erica Penfold
- Infrastructure Fund: Sebolelo Matsoso