PROJECT

Projects

Summary of Investment Information

Project Number

44903

Company Name

AFRICAN LOCAL CURRENCY BOND FUND LIMITED

Date SPI Disclosed

Nov 8, 2023

Country

Western Africa Region

Region

Africa

Projected Board Date

Dec 8, 2023

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Aug 1, 2024

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Dec 21, 2023
Signed : Dec 22, 2023
Invested : Jul 30, 2024

Sector

Finance Companies

Additional Project Attributes

Blended Finance

Project Description

The proposed project consists of an A Loan, to be disbursed in XOF or XAF, of up to US$15 million equivalent to the ALCB Fund S.A. SICAV-RAIF, an IFC’s existing client (the “Fund”) (the “Project”). The Fund’s mission is to support the development of capital markets across countries in Africa by promoting the issuance of corporate bonds in local currency. The Project will help the Fund scale up its investments in bonds issued by non-sovereign entities in West and Central Africa                                                 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation