According to IFC website, as part of its strategic focus on mobilizing third party capital for infrastructure investment in emerging markets, IFC is proposing to support the development of an infrastructure debt platform (the “vehicle”) that will invest in senior loans in infrastructure projects alongside IFC. IFC will provide support to the vehicle in the form of an unfunded portfolio guarantee, which will enable third party investors to consider this asset class.
The expected development impacts are:
1. Given that the vehicle will co - invest with IFC (on the same terms and conditions) the proposed investment will support private sector development by increasing access to long term debt capital for infrastructure projects across emerging markets from an asset pool (i.e. institutional investors located in OECD countries) that has yet to venture in significant scale into infrastructure investments in emerging markets.
2. Under MCPP investors approve funding in projects much earlier than traditional co-lenders, providing IFC's clients with greater certainty of finance and reducing their transaction costs during the project development phase, allowing for a faster process to financial close.
3. The vehicle is directly leveraging IFC's own economic capital allowing IFC to participate in larger transactions.
AXA SA, through its subsidiaries, provides insurance and asset management services worldwide. It operates through six segments: France, Europe, Asia, the United States, International, and Transversal and Central Holdings.
Project Contact: Carl Chastenay
Senior Syndications Officer, IFC
Telephone No.: 1 202 458 9622
Email Address: CChastenay@ifc.org
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