20100409
africagoodnews

The International Finance Corporation (IFC) would invest $100-million in the second Africa Infrastructure Investment Fund (AIIF2), which was aimed at promoting the development of basic infrastructure on the African continent.

The AIIF2, which was established by the African Infrastructure Investment Managers (AIIM), a joint venture between Macquarie Africa and the Old Mutual Investment Group South Africa, was aimed at raising between $600-million and $1-billion to invest in unlisted equity and equity like infrastructure investments in sub-Saharan Africa.

The fund would take "significant" stakes in a range of infrastructure projects including toll roads, wind farms, other renewable energy projects, ports, water and sewerage utilities, and social infrastructure, the IFC said in a statement this week. "AIIF2 is a vital addition to the pool of specialised African infrastructure equity capital. It will facilitate the development and sustainable operation of a number of infrastructure projects, which are critical to accelerating Africa's development," noted AIIM MD Andrew Johnstone.