ARP passes two organic bills approving status of Africa50 Fund [Upd 1]

Tunis: The Assembly of People's Representatives (ARP) approved at a plenary session, on Tuesday, two organic bills approving the status of the Africa50 Fund; a bill on the adoption of the status of the 'Africa50 Fund-Project Development' and the other on the adoption of the status of the 'Africa50 Fund-Project Financing."Africa50 is an investment platform created in 2014 by African governments and the African Development Bank (AfDB) to address the infrastructure financing gap in Africa.Its mission is to mobilise funds from both the public and private sectors, facilitate the development of projects and invest in infrastructure on the Continent.Africa50 facilitates medium and large-scale projects with a strong impact on the development of Africa while offering an attractive return to investors.Bringing together the development and financing of projects under the same institution, Africa50 supports all stages of the project cycle, using three investment vehicles.Africa50 prioritizes investments in the energy, transport, ICT and midstream gas sectors and has more recently expanded its scope of activity to the areas of fintech, health and education.Tunisia joined Africa50 in 2017.Source: Agence Tunis Afrique Presse