The African Development Bank Group and Mota-Engil Africa, a construction and infrastructure company, have signed an agreement for a €120 million non-sovereign Partial Credit Guarantee in Abidjan. This transaction marks the Bank Group’s first direct support to an Engineering, Procurement and Construction company in Africa.
The guarantee will support a €170 million Sustainability-Linked Loan provided by Deutsche Bank AG, enabling Mota-Engil Africa to strengthen its financial profile, extend the maturity of its debt, and deliver a pipeline of projects across over a dozen African countries. These projects will include transport infrastructure, environmental services, water and sanitation systems, and energy-efficient civil works.
AfDB Vice President Solomon Quaynor described the signing as a significant step forward in using guarantees to leverage and unlock affordable commercial financing for Africa’s development. Mota-Engil Africa Chairman Manuel Mota called the agreement a defining moment that cements the company’s leadership in Africa’s transformation. Projects undertaken will align with the company’s Sustainability-Linked Financing Framework, targeting improvements in health and safety performance, women’s representation in management, and local employment creation.
Source: afdb.org