The US Overseas Private Investment Corporation (OPIC), the African Development Bank and KfW are supporting the African Local Bond Fund (ALCB). Priority is given to housing, microcredit and agriculture projects.
According to the protocol signed on April 18, 2018 in Frankfurt, CIPO contributed $ 40 million to the Fund while the African Development Bank provides a senior loan of ZAR 140 million (US $ 10 million) to support development. local corporate bond markets in Africa. This last loan was the first local currency loan obtained by the ALCB fund.
The Fund was established in December 2012 by the German Development Bank (KfW) with an initial capital of US $ 47 million.
Jim Polan, vice-president of CIPO for financing small and medium-sized businesses; Pierre Guislain, Vice President of the African Development Bank in charge of the private sector, infrastructure and industrialization; Vitalis Ritter and Mark Napier, members of the Board of the Africa National Bond Fund, signed the agreement.