AfDB approves $10 million loan to ALCB Fund

THE African Development Bank (AfDB) has approved a US$10 million loan to the African Local Currency Bond Fund (ALCB Fund), to enable African countries like Zambia to stimulate the growth of domestic capital markets.

The ALCB fund is designed to promote local currency bond issuers in high-impact sectors by providing technical assistance to facilitate corporates bond issuances and champion best practice across various domestic debt markets.

In a statement issued yesterday, AfDB says the fund is expected to invest in all African countries where local currency bonds are possible.
Currently, ALCB has invested in Botswana, Ghana, Kenya, Zambia, Lesotho, Senegal, Côte d’Ivoire, Nigeria, Uganda, Malawi, Gabon and Togo.
As of December 31, 2017, the fund had…..

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