By Nathan Allen

Allianz SE (ALV.XE) will finance African infrastructure projects by making two separate investments in the Emerging Africa Infrastructure Fund, or EAIF, the insurer said Tuesday.

Allianz said it will make one investment of 75 million euros ($92.2 million) and a second investment of $25 million, both over 12 years.

The investments mark the first transactions in Allianz's dedicated African investment strategy, the company said.

EAIF is part of the Private Infrastructure Development Group, a donor-backed organization that encourages private-sector infrastructure investment in the world's lowest-income countries, Allianz said.

The fund, which is managed by Investec Ltd.'s (INL.JO) asset-management arm, has invested around $1.3 billion in infrastructure projects across the continent since its foundation.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

April 10, 2018 05:45 ET (09:45 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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