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AFRICINVEST NORTH AFRICA FUND

Signature(s)

Amount
€ 4,000,000
Sector(s)
Services : € 4,000,000
Signature date(s)
21/12/2004 : € 4,000,000
Link to source

Summary sheet

Release date
23 March 2004
Status
Reference
Signed | 21/12/2004
20030148
Project name
Promoter - financial intermediary
AfricInvest North Africa Fund
  • Netherlands Development Finance Company (FMO) - Mr Henk Nijland.
  • Tuninvest Finance Group - Mr Ziad Oueslati.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 4 million.
EUR 25 million – an amount taking account of the overall AfricInvest project, which is split between three investment funds.
Description
Objectives

Creation of a 10-year investment fund for the purpose of taking short-term equity or quasi-equity participations in Maghreb country enterprises in a co-financing partnership with the regional fund (Maghreb - sub-Saharan Africa AfricInvest Fund).

Contributing to the development of some fifteen enterprises or groups of enterprises in the target region; supporting investment capital activity in the Maghreb; obtaining for investors an internal rate of return of 13 to 15% per annum upon liquidation of the fund.

Environmental aspects
Procurement

The fund will invest only in enterprises complying with environmental standards meeting the Bank's criteria and will satisfy itself of compliance with these standards throughout the term of the investment.

N/A

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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