By: Energy capital & power

Investment firm China Development Bank (CDB) and finance institution Development Bank of Southern Africa (DBSA) have signed a $293 million loan facility agreement to support infrastructure development across Africa.

The funding will be allocated to projects in sectors such as infrastructure, energy, ICT, water, health and manufacturing. It responds to Africa’s estimated $100 billion annual infrastructure financing gap and aims to address key development needs while promoting economic growth. The DBSA will manage the disbursement and oversight of the projects financed under this facility.

The deal aligns with China’s “Ten Major Partnership Actions” announced at the 2024 Forum on China-Africa Cooperation, a program seeking to boost African modernization and integration.

Boitumelo Mosako, CEO, DBSA, said, “We sign this line of credit with our partner CDB to advance our ambition—an ambition that carries a profound weight of future responsibility, for we are enabling unwritten chapters of our future through the sustainable infrastructure that we build today.”