EAIF is a public-private partnership providing long-term debt finance for construction and development of private infrastructure in sub-Saharan Africa.
The Emerging Africa Infrastructure Fund (EAIF) is a public-private partnership providing long-term debt finance for the construction and development of private infrastructure in sub-Saharan Africa.
The EAIF was established in January 2002 to address the lack of long-term foreign currency debt finance for infrastructure projects in sub-Saharan Africa.
How the EAIF works
The EAIF provides US$10 million to US$36.5 million to projects across a range of sectors including telecoms, transport, water and power.
It lends American dollars and euros to private companies (or soon to be privatised companies). This lending is for greenfield projects or for the refurbishment, upgrade or expansion of existing facilities.
While the EAIF lends on commercial terms, it aims to support projects that:
- promote economic growth and reduce poverty
- benefit broad-based population groups
- address issues of equity and participation
- promote social, economic and cultural rights.
The EAIF intends to make a lasting positive impact on the infrastructure of sub-Saharan Africa. This will facilitate economic growth and contribute to poverty reduction in the region.