IFC Pledges $20 Million to Africa50 Fund for Sustainable Infrastructure Growth in Africa
- The International Finance Corporation (IFC) has invested $20 million in equity to the Africa50 Infrastructure Acceleration Fund (IAF Fund).
- The Africa50 Infrastructure Acceleration Fund has completed its initial funding round, garnering $222.5 million in commitments.
- The CEO of Africa50 Group expressed enthusiasm over the robust backing from African institutional investors.
The investment by the IFC in the Africa50 Infrastructure Acceleration Fund is a positive development for Africa's infrastructure development. It will help address the substantial infrastructure deficits in the continent and attract additional private sector investment. However, more efforts are needed to bridge the infrastructure gap and promote economic growth.
