Off the wire
• Urgent: Xi welcomes other countries to board China's express train of development  • Feature: Village guards replace Palestinian police against settlers' attacks  • UN mission in Afghanistan condemns bomb attack  • Urgent: Xi says China never seeks hegemony or expansionism  • Urgent: China to set up 8000 permanent troops for UN peacekeeping: Xi  • 1st LD: NASA finds "strong" evidence for liquid water on Mars  • Urgent: Xi says China to always vote for developing countries in UN  • Urgent: China to provide AU 100 million USD in military assistance for peacekeeping  • 1st LD: U.S. says ready to work with Russia, Iran to resolve crisis in Syria  • Roundup: Philippines stuns Itan, only China stays unbeaten  
You are here: 　 Home

EIB agrees 30 mln euros investment in Meridiam Africa Fund

Xinhua, September 29, 2015 Adjust font size:

Europe's long-term financing institution, the European Investment Bank (EIB) and Meridiam, a global investor and asset manager on Monday announced a 30 million euros (about 33.6 million U.S. dollars) catalyst investment in the Meridiam Infrastructure Africa Fund.

According to the EIB, the pan-African fund is expected to investment in eight to 10 essential infrastructure projects including, energy, education, transport, water and waste schemes.

"The EIB is committed to supporting infrastructure investment that unlocks business opportunities, reduces costs and contributes to achieving the Millennium Development Goals and this new initiative firmly supports these goals," said Pim van Ballekom, the bank's vice president.

"This new fund is an ideal opportunity to unleash much needed investment in African infrastructure," said Meridiam's CEO Thierry Deau.

The Meridiam Infrastructure Africa Fund is currently finalizing investment in three projects, a solar photovoltaic project in Senegal, a university campus in Cote d'Ivoire and airports renovation in Madagascar.

In 2014, the EIB provided more than 2.5 billion euros to support infrastructure and private sector investment across Africa. (1 euro = 1.12 U.S. dollars) Endit