Africa Finance secures $2B led by First Abu Dhabi Bank
The African Finance Corporation raised two billion dollars through a joint loan led by First Abu Dhabi Bank, with the aim of supporting infrastructure projects across Africa. The deal saw participation from banks in Asia and Europe, each representing about 35% of the lenders. The African continent is seeking to develop railways, ports, and oil refineries to keep up with the increasing demand for resources. The corporation received a long-term A rating from Standard & Poor's with a positive outlook for the future.
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