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AFC Plans Debut $2 Billion Africa Climate Resilience Funds

  • Company plans debut offering to capitalize infrastructure fund
  • UN estimates Africa needs $2.3 trillion for infrastructure
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AFC Capital Partners plans to raise $2 billion to fund infrastructure projects in Africa that will make it more resilient to climate change.

The asset management company, a unit of the Africa Finance Corp., will raise an initial $500 million in its debut offering over the next year and the full amount over the coming three years, it said in a statement.