The International Finance Corporation (IFC) is arranging financing of more than 160 million euros for the cement manufacturer CIMAF. This financial package aims to stimulate its cement production and finance its sub-regional ambitions.

The IFC has arranged a financial package of 161.25 million euros for the CIMAF group (Ciments d'Afrique) in order to stimulate its cement production and finance its sub-regional ambitions. Proparco and the Emerging Africa Infrastructure Fund (EAIF) also participated in the financing. The facility includes a €92.5m loan on behalf of IFC, a €33.75m parallel loan from Proparco and a €35m B loan from EAIF. It should enable CIMAF to expand its existing cement grinding plants in Ghana and Mali and to build a new state-of-the-art integrated cement plant in Senegal. The planned plant in Senegal will also produce clinker, a mixture of limestone and other minerals used to bind many cement products, thereby reducing the region's dependence on imports.