China-Africa Development Fund
| Country: China
Established: 2007 US$ Billion: 5 |
Origin: Non-commodity
Entity Structure: Fund |
Summary:
The China-Africa Development (CAD) Fund was established by the China Development Bank as an investment vehicle in Africa.
Background:
Founded in March 1994, the China Development Bank is under the direct jurisdiction of the State Council.
Debts issued by the China Development Bank are fully guaranteed by the central government of the People’s Republic of China. It is one of the largest issuers of bonds in the People’s Republic of China.
In March 2007, the Chinese government officially established the China-Africa Development Fund. The funding will be broken out in 3 stages, totaling US$ 5 billion with the first phase being funded by the China Development Bank.
Strategy & Objectives:
The fund will be able to invest in stocks, convertible bonds, and other quasi-equity type of investments. It may also invest in a “fund of funds” type of investment.
