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Investment on infrastructure

    JOHANNESBURG
    A US-based insurer plans to invest US $495 million in transport, communications, water and power projects in Africa, the Development Bank of South Africa (DBSA) announced on Friday. The Africa Infrastructure Fund (AIF) was launched in Washington on Wednesday by American International Group (AIG) in partnership with the World Bank's International Financing Corporation (IFC). South Africa's former president Nelson Mandela will chair its advisory board. The Development Bank said AIG and IFC would each put up US $75 million while DBSA would come up with the rest of the money.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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