IFC supports development of infrastructures in sub-Saharan Africa

24 May 2010

The International Finance Corporation (IFC) is going to be investing 110 million Dollars in the HeidelbergCement company in order, in particular, to improve energy efficiency and the construction of infrastructures in sub-Saharan Africa.

In a press release issued on Friday 21 May by the PANA agency, the IFC likewise announced that other financial partners should be injecting a further 70 million Dollars.

The investments will allow for the modernisation and expansion of the sub-Saharan branches of the German cement manufacturer.

“This investment programme is going to stimulate the improvement of local infrastructures and the living environment, allowing for new jobs to be created and meeting environmental standards”, as Bernd Scheifle, CEO of HeidelbergCement explains in the press release.

The IFC likewise granted a loan last week of 75 million Dollars to the Philippines branch of the American company SunPower Corporation.

This IFC loan will provide funds for SunPower to produce solar power stations of 108 megawatts and module manufacturing installations in Laguna, Nigeria.