(Ecofin Agency) - The Regional Education Finance Fund for Africa (REFFA), managed by the impact investment management company, BlueOrchard Finance has granted a $3 million loan to Fidelis Finance, a West African financial institution to support education structures in West Africa. Deployed in December 2020, the financing was made public on February 17th.
Fidelis plans to use this financial assistance to finance private educational institutions in Burkina Faso and Côte d'Ivoire. "This investment shows us that through specialized funds such as Reffa, we can tackle the issue of education [...] Fidelis Finance is a key player in the financing of education in Burkina Faso and Côte d'Ivoire and we are pleased to be able to provide our financial and technical support to the institution", commented Yann Groeger, Regional Director of BlueOrchard Finance.
The arrival of a new subscriber to REFFA extends the list of investors and development financial institutions (CDC Group, the Opec Fund for International Development...) committed to this investment vehicle set up by KfW, the German development bank.