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African Development Fund Board approves $37.2 million in credit risk participations by the Private Sector Credit Enhancement Facility for non-sovereign operations in Kenya, Sudan and Senegal
The Board of Directors of the African Development Fund (ADF), the concessional window of the African Development Bank Group, approved on January 15, 2020, credit risk participations by the Private Sector Credit Enhancement Facility (PSF) for projects in Kenya, Sudan and Senegal.
The agreement covers operations cumulatively valued at $37.2 million and includes a corporate loan to support an East African agribusiness firm’s domestic and regional expansion, and two lines of credit targeting SME borrowers.
Launched in 2015 by the ADF, the PSF provides credit risk participations in low-income countries, and is well on its way to building a $1.5 billion portfolio of exposures.
The approval of these operations brings the PSF’s total portfolio to $733.25 million, comprising risk exposures in 47 operations amounting to roughly $2.6 billion of total NSO loans.
“We continue to advance the African Development Fund’s mission to strengthen development impact by creating opportunities for the private sector to invest in low-income countries,” said PSF Administrator Cecile Ambert.
The approved operations were selected because of their high potential to increase food production, deepen regional trade, and spur job creation, particularly for women and young entrepreneurs.
Olufemi Terry, Communication and External Relations Department, African Development Bank
Technical Contact: Cecile Ambert