Thursday, July 31, 2025
24 C
Lagos

China, France Create Joint €300M Fund to Invest in Africa

China and France announced on November 15 the official launch of a €300 million investment fund to finance joint projects in Africa and Asia.

The fund was launched on the sideline of the visit of China’s deputy Prime Minister, Kai ma, to France.

Managed by CDC International Capital (CDC IC), subsidiary of Caisse des Dépôts dédiée aux partenariats d’investissements directs, and backed by the China Investment Corporation (CIC) sovereign fund, the new fund could reach a capital of two billion Euros, by opening up to other Chinese and French institutional investors.

It will mainly target the renewable energy, health and infrastructure sectors. “This new alliance, sealed with this fund, aims to foster economic cooperation between our countries. Rather than competing in Africa, we will now work together,” said Laurent Vigier, CEO of CDC IC. “It will also ease our entry in Asian markets which are still difficult to penetrate,” he added commenting the partnership.

Let’s recall that China and France signed in June 2015 a declaration of partnership for third country markets under which the two nations committed to win, together, new markets in Africa and Asia.

Moreover, under the same declaration, the two countries are to work together on infrastructure and energy projects and develop “new cooperation formulas for co-production and co-financing” which will target “mainly Asia and Africa.”

spot_img
spot_img
spot_img

Hot this week

Two NCDMB Leaders Bag Doctorate Degrees at UNIPORT Convocation

Two senior officials of the Nigerian Content Development and...

Sovereign Trust Insurance Reports 109% Insurance Revenue Growth in 2024

Sovereign Trust Insurance Plc recently released its 2024 audited...

NAICOM Issues Guidelines for Insurtech Operations Effective Aug 1

The National Insurance Commission (NAICOM) has officially issued operational...

Leadway Assurance: Official Insurance Partner of Lagos International Trade Fair 2025

L–R: Juliet Okon, Head, Alternative Channel and High Net-worth...

NNPCL: Port Harcourt Refinery Not for Sale

Group CEO, NNPC Limited, Engr. Bashir Bayo Ojulari addressing...

Topics

Royal Exchange Insurance Taps Oyetunji, Uyi, Alfred for Executive Positions

The Board of Royal Exchange General Insurance Company (REGIC)...

Stanbic IBTC Named Nigeria’s Best Sub-Custodian Bank 2020 for 9th Time

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC...

Standard Chartered Bank Outlook 2017: A Pivot Year for Investors

Standard Chartered Bank’s Wealth Management Advisory Group has released...

Bearish Run Sustained on Large Sell-Offs… ASI Down 1.6%

The local bourse continued its bearish run as the...

‘I Will Support President Tinubu’s Agenda Using STI’ – New NASENI Boss

R-L: Mr. Khalil Suleiman Halilu, Executive Vice Chairman/CEO, National...

UNDP Africa Director Seeks New Approach to Accelerate Nigeria’s Development

Concluding an eight-day official visit to Nigeria today, the...

Standard Chartered Bank Result Slumps 85% in 2015

In Botswana, the net result of Standard Chartered Bank’s...

Facebook Kicks Off Global Initiative on Women’s Safety

Facebook hosted a Women’s Safety roundtable in Kenya on...
spot_img

Related Articles

Popular Categories

spot_imgspot_img