THE FONDS SOUVERAIN DE DJIBOUTI AND THE MERIDIAM INVESTMENT FUND SIGN A MEMORANDUM OF UNDERSTANDING TO BUILD SUSTAINABLE INFRASTRUCTURE
Signature of a memorandum of understanding between the Fonds Souverain de Djibouti and Meridiam Investment Fund for the Development of Infrastructure Projects.
Sunday, July 24, 2022, the Fonds Souverain de Djibouti (FSD) and Meridiam signed a memorandum of understanding to combine their skills for implementing infrastructure projects to contribute to the economic and social development of the Republic of Djibouti.
This agreement is the result of five months of long and patient work and serious discussions between the two parties;
It crowns the first-of-its-kind visit in Djibouti last February by a high-level delegation from Meridiam led by Marvin Bell, Director of Operations for East Africa.
The FSD’s Chief Executive Officer, Dr. Slim FERIANI, subsequently visited Meridiam’s head office in Paris to further discuss these issues with Mr. Mathieu PELLER, the Director of Operations for Africa, and his staff.
Meridiam is an investment fund with a mission specialized in developing, financing, and long-term management of sustainable public infrastructure in three sectors of activity: mobility of goods and people, energy transition and environment, and social infrastructure. Founded in 2005, Meridiam first invested in Europe and North America before focusing on the African continent, where it launched its operations in 2015. By 2021, Meridiam had US$80 billion in financing in more than 100 projects under development, construction, or operation in 26 countries in Europe, North America, and Africa, where four offices are established.
By signing this memorandum of understanding with Meridiam, the FSD is entirely in line with Vision 2035, aimed to develop the private sector by attracting one of its most prestigious players on an international scale.
Very active on our young continent (Africa), the Meridiam Fund is a pioneering investment platform concerned with innovation. Meridiam highlights green energy and buildings that respect the impact on indigenous populations and their environment, notably by recycling raw materials or using materials within reach of a given region.
In all of its projects in Africa, Meridiam prioritizes training local professional talents and then hands over the management of the projects to them once their skills are acquired in the field.
Meridiam has notably supported the realization of several essential projects such as Electric Buses and the commissioning of four Solar Power Plants in Senegal, the construction of a geothermal power plant in Ethiopia, the construction of a biomass power plant in Côte d’Ivoire or the support of the construction of Data Centers in several major African capitals, to name but a few examples.
This historic memorandum of understanding with Meridiam allows the Fonds Souverain de Djibouti to move on to the implementation phase of projects in partnership in various priority sectors in the short and medium term.
The project mentioned during the validation of this agreement are the following:
- A solar or wind energy project to contribute to the energy independence of the Republic of Djibouti;
- A social infrastructure project, such as a school or hospital, to improve the living conditions of fellow citizens;
- One or more components of the industrial park project called Djibouti “Damerjog Industrial Park” contributing to the development of the Republic of Djibouti as an essential regional logistic and industrial place;
- The project for a new international airport to develop services to the Republic of Djibouti;
- A data center project to make the Republic of Djibouti a communications hub.
The Chief Executive Officer, Dr. Slim FERIANI, the Director of Investments of Meridiam, Mr. Guilhem VECTEN, Mr. Jean-André GBARSSIN, Chief Investment Officer of the FSD, and Mr. Kaid DJAMA, Analyst at the FSD were present at the signing ceremony of the memorandum of understanding.
In a brief speech, Dr. FERIANI welcomed the conclusion of such a partnership agreement, convinced that “this new partnership will consolidate the role of the FSD as an interlocutor and strategic partner of choice for foreign investors in Djibouti .”
Mr. Feriani added, ” we confirm we are targeting the partners of choice to realize infrastructure projects. Projects that will positively impact the country’s economy and population through the expected achievements in the concretization of the Vision 2035 carried by H.E. Mr. ISMAËL OMAR GUELLEH, President of the Republic of Djibouti”.
The FSD and Meridiam also share the same objectives of seeing the local populations benefit more from the various projects carried out, being respectful of their immediate environment, and that the principle of good governance is respected.
Both teams will pay particular attention to the issues of sustainable development, responsible investment, and inclusive growth of the projects implemented in Djibouti.