This archive report was first published on 25 November 2019.
On November 14th, 2019, Africa Finance Corporation (AFC) closed its first $140 million Kimchi term loan facility, a historic achievement in the institution's global investor engagement efforts.
The loan facility, AFC's first Korean instrument, represents a major breakthrough in the corporation's ability to tap into global investors and diversify its funding sources.
According to Samalia Zubairu, AFC President and CEO, the closing of the loan facility deal signifies Asia's growing appetite for African investments. He expressed enthusiasm for engaging with South Korea and other Asian markets on the opportunities available in Africa.
The loan facility had general syndication on September 16th, 2019, and the loan agreement was signed on November 14th, 2019.
Africa Finance Corporation is an investment-grade multilateral finance institution established in 2007, serving as a catalyst for private sector-led infrastructure investments across Africa.
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