Quick Facts

Where the impacts of the investment may be experienced.
  • Africa
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • African Development Bank (AFDB)
Status: Approved
Bank Risk Rating: U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2014-01-31
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Private Sector Facility ADF13
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Project Cost (USD): $ 234.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Currency conversion note:
Bank reported UAC 165.00 million
Converted using 2017-09-22 exchange rate.

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Primary Source

Original disclosure @ AFDB website
Updated in EWS: 2017-09-22
Disclosure Date: 2013-07-23

Project Description
Seeded with a USD 230 million grant from the African Development Fund, the facility's credit enhancement structure has the capacity to cover exposures amounting to USD 700 million at a "BBB" equivalent level of credit enhancement. As a partial credit risk participant (on average 50% of credit default risk) the PSF has a mobilization target of USD 1,4 billon. As a financially and legally autonomous facility, it shares in the default risks and revenues of the African Development Bank's private financing in these markets. The PSF may only participate in debt project finance transactions in low-income countries or transactions through financial intermediaries where the majority of proceeds are deployed in low-income countries. Single obligor, country and sector concentration ceilings have been set for the portfolio as a whole, in order to ensure PSF portfolio diversification, in line with the target credit enhancement level. The PSF's oversight body is the Board of the African Development Fund, and its day to day management the responsibility of a designated Administrator.
Investment Description
Contact Information
AMBERT Cecile - FIRM1 ACCOUNTABILITY MECHANISM OF AfDB The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.
Bank Documents