ADB participates in Arif investment fund
29 July 2010
On Wednesday 21 July, the African Development Bank (ADB) and the company Infra Invest signed a shareholders' agreement which includes a participation on the part of the ADB of 15 million euros.
The investment fund will have access to a total of more than 85 million dollars and falls within the scope of the "Argan Infrastructure Fund".
Forty percent of its resources will be invested in Morocco, 30 percent in other North African countries and the rest will be allocated to sub-Saharan Africa, in particular West Africa.
The investments will be placed in infrastructure projects in the fields of energy, transport and logistics, water and environmental services and telecommunications.
Speaking at the signing ceremony, Mme Abou-Zeid, resident representative of the ADB in Morocco, pointed out that the ADB plans, by this participation, to finance development projects and thus to contribute to improving the standard of living of the population in the target areas.