The FINANCIAL — Europe’s long-term financing institution, the European Investment Bank (EIB) and Meridiam, a leading global investor and asset manager specializing in public and community infrastructure today announced the agreement of a new €30 million catalyst investment in the Meridiam Infrastructure Africa Fund.
The pan-African fund is expected to investment in 8-10 essential infrastructure projects including, energy, education, transport, water and waste schemes. The Meridiam Infrastructure Africa Fund is currently finalizing investment in three projects, a solar photovoltaic project in Senegal, a university campus in Côte d’Ivoire and airports renovation in Madagascar, according to EIB.
“Investment across Africa to improve energy, education, water and transport infrastructure is essential for economic activity and improving lives. The Meridiam Infrastructure Africa Fund will help projects being implemented for the first time by sharing experience from similar schemes elsewhere, both in Africa and Europe. The European Investment Bank is committed to supporting infrastructure investment that unlocks business opportunities, reduces costs and contributes to achieving the Millennium Development Goals and this new initiative firmly supports these goals.” said Pim van Ballekom, European Investment Bank Vice President.
“This new fund is an ideal opportunity to unleash much needed investment in African infrastructure. We believe we can contribute to support efforts across the continent to build capacity in infrastructure delivery to accompany and foster African growth. In this way we will collectively harness the enormous potential created by Africa’s young population, burgeoning middle classes and increasingly urbanized population,” said Thierry Déau, Meridiam’s Founder/CEO.
Meridiam’s consistent investment strategy since the firm’s creation in 2005, with the renewed support of the EIB, has been to invest in a wide variety of projects in Europe and North America and by prudent and sensible risk mitigation measures can contribute its experience in complex infrastructure transactions and its adherence to the strictest Environmental, Social and Governance (ESG) standards to create and manage projects that benefit local communities and national economies and concretely help to further the ability of the developing world to bridge the dangerous gap that exists in the global economy today, for the benefit of future generations across the continent.
In 2014 the European Investment Bank provided more than EUR 2.5 billion to support infrastructure and private sector investment across Africa.