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  Loan to finance infrastructure in Sub-Saharan Africa 

On 29 June 2012, OeEB signed a loan to FirstRand Bank in a total of EUR 15 million for projects in Low Income Countries (LICs) and Sub-Saharan Africa in order to finance infrastructure.

Although commercial banks in South Africa have good access to saving deposits, these are predominantly short-term. Especially for financing infrastructure project long-term credits are needed. Because of a development deficit in the financial sector commercial banks cannot adequate afford long-term credits. The absence of a well-developed infrastructure is one of the greatest barriers in the development of the private sector.


The credit line of the OeEB is supposed to enable the allocation from long-term credits in LICs in Sub-Saharan Africa in order to finance infrastructure projects. By financing these projects OeEB helps towards a stabilization of the private sector as well as fostering private investments. New employment will be created and a stable economic growth for the region will be enabled.

Further projects with FirstRand Bank Ltd.:

OeEB credit line for renewable energy projects in South Africa

 



Contact

Oesterreichische Entwicklungsbank AG

Tel. +43 1 533 12 00-0

Fax +43 1 533 12 00-5252

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