The Africa Finance Corporation (AFC) has secured a USD 100 million, 10-year loan facility from FinDev Canada, marking the corporation’s first-ever transaction in the Canadian market.
The deal also represents FinDev Canada’s first infrastructure financing in Sub-Saharan Africa, deepening North American participation in Africa’s sustainable growth efforts.
According to the AFC, the funds will support a pipeline of renewable energy and low-carbon transport projects across the region, reinforcing its commitment to climate-resilient infrastructure development.
Officials from both institutions described the partnership as a step towards accelerating Africa’s transition to cleaner and more sustainable growth.
AFC’s Executive Board Member and Head of Financial Services, Banji Fehintola, said the transaction diversifies AFC’s funding base and reflects a shared goal of driving sustainable infrastructure across the continent.
FinDev Canada’s Vice President and Chief Investment Officer, Paulo Martelli, noted that the deal strengthens the institution’s presence in Sub-Saharan Africa while supporting its development and climate impact objectives.
The AFC, established in 2007, has 46 member countries and has invested over US$15 billion in infrastructure and industrial projects across Africa. Its partners include global development finance institutions such as Germany’s KfW, Italy’s CDP, India Exim Bank, and the US International Development Finance Corporation.
The corporation said the new facility will enhance its ability to deliver innovative financing solutions that tackle climate change, improve energy access, and promote sustainable economic growth.
