Africa Finance Corporation (AFC) has completed a $ 50 million bilateral loan facility grant with Standard Bank Plc (part of the Standard Bank Group). This marks AFC’s initial step in fully leveraging its balance sheet to invest in and support the development of critical infrastructure in the power, natural resources, transport, heavy industry and telecommunications sectors. Standard Bank was the sole arranger, lender and agent of the facility. Commenting on AFC’s debut borrowing in the international loan markets, Andrew Alli, chief executive officer and president of AFC, said “all financial institutions need to leverage their balance sheets in order to have access to the necessary liquidity to fund the assets they create.
This bilateral facility with Standard Bank marks the launch of AFC’s international borrowing strategy. “We are pleased that our maiden borrowing is with Standard Bank whom we expect to continue to work with closely,” Alli said. “This loan demonstrates the strengthening financial capacity of the continent and the close intra-African ties that are being developed and we expect to continue to develop our funding programme by working with institutions such as Standard Bank, as well as by tapping the debt capital markets.”
David McCaig, global head of debt products of Standard Bank, welcomed the successful closing of the loan facility and said “Standard Bank are immensely proud to be part of AFC’s evolving growth story across Africa and internationally.
“We believe that this facility will serve as a solid foundation for all future borrowings of AFC and will assist in establishing the corporation as one of the leading capital markets participants from Africa.”
AFC is an African-led international financial institution, established in 2007 whose mission is to improve African economies by proactively developing and financing infrastructure, industrial and financial assets. 
Standard Bank Group is Africa’s largest bank by assets. The group delivers banking and related financial services that help strengthen Africa’s connections to key markets, and in turn enhance those markets’ connections to Africa.