The European Investment Bank (EIB) has announced commitment to provide EUR75 million (US$83.60 million) for Meridiam Infrastructure Africa fund II. The fund will invest equity and quasi-equity into medium-sized greenfield infrastructure projects in the mobility, energy transition, environment, social infrastructure, telecom and circular economy sectors across Africa.

The fund targets to raise EUR750 million (US$836 million). To be eligible to receive the investment from EIB the fund will have to comply with social requirements of bank with environmental and social policy as well as establish appropriate management systems.