FinDev Canada, the Canadian government’s development finance institution, has announced a significant financial commitment of $100 million to the Africa Finance Corporation (AFC), a leading pan-African infrastructure solutions provider. This strategic loan facility is aimed at accelerating the development of climate-resilient infrastructure across sub-Saharan Africa.
The funding will support AFC’s growing pipeline of climate finance projects, including the development of solar photovoltaic (PV) and wind power initiatives. These renewable energy projects are expected to contribute meaningfully to the region’s energy transition and sustainability goals.
In addition to clean energy, the facility will also back the construction of low-carbon railway infrastructure, specifically for an inter-urban metro transportation project in the Democratic Republic of Congo (DRC). This project is designed to reduce emissions, improve urban mobility, and stimulate economic activity in the region.
Paulo Martelli, Vice President and Chief Investment Officer at FinDev Canada, emphasized the strategic importance of the partnership:
This transaction represents an opportunity for FinDev Canada to support a leading solutions provider financing critical infrastructure in sub-Saharan Africa and an important step towards expanding our market presence in the region. We are proud to invest in an institution which aligns with our impact development goals, particularly market development and climate and nature action.
This investment underscores FinDev Canada’s commitment to sustainable development, climate action, and inclusive economic growth in emerging markets. By partnering with AFC, FinDev Canada aims to catalyze further investment into infrastructure that not only drives development but also aligns with global climate objectives.
