World Bank Provides $425 Million to Support the Provision of Infrastructure Financing

The World Bank Board of Directors approved today a total amount of $425 million in International Development Association (IDA)* financing to support the provision of infrastructure finance in Eastern and Southern Africa. The Regional Infrastructure Financing Facility project (RIFF) aims to expand long-term finance to private firms in selected infrastructure in the power sector, as well as in the transport, logistics and social sectors. This is the first regional facility of this kind in Africa. The fund is managed by the Trade Development Bank and designed to also cater to off-grid companies.