AfDB gets $1bn for infrastructure investment

The African Development Bank, along with some partners across the globe, has announced the securing of $1bn to enable investment in infrastructure development across the African continent, including Nigeria.The announcement, which was made in Ottawa, Canada, according to a statement made available to our correspondent by the AfDB, listed the partners in the multi-level securitisation to include the European Commission, Mariner Investment Group, LLC, Africa50 and Mizuho International Plc. The portfolio tagged: Room2Run, is $1bn synthetic securitisation corresponding to a portfolio of seasoned pan-African credit risk.According to the bank, Room2Run is the first-ever portfolio synthetic securitisation between a multi-lateral development bank and private sector investors, pioneering the use of securitisation and credit risk transfer technology to a new and previously unexplored segment of the financial markets.
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