(Ecofin Agency) – CDC Investment, the British institution for development financing, announced in a statement, it has signed a cooperation framework-agreement with China-Africa Development Fund (CAD Fund), a Chinese investment fund focused on Africa.
The agreement aims to strengthen relations between both institutions and boost investment in Africa. The China-African fund created in 2007 and CDC Investment, that has more than 70 years of investment experience in Africa, will share its expertise and experience and cooperate in research and analysis to identify sustainable investment opportunities across the continent.
“The agreement represents a long-term commitment by CDC to develop and strengthen our relationship with one of China’s leading investors in Africa. We both share the vision of promoting investment, development impact and economic growth in a continent which is full of potential,” said Colin Buckley, CDC’s Chief Operating Officer.
Let’s recall that CAD Fund, managed by the China Development Bank, has a total capital of $10 billion. It supports Chinese companies in their investment projects in Africa, mainly in agriculture, energy and construction sectors.