Africa Finance Corporation (AFC), the continent’s foremost provider of infrastructure solutions, has announced the successful completion of a US$100 million, five-year loan facility secured from the Export-Import Bank of India (India Exim Bank).
The transaction further strengthens AFC’s established partnership with India Exim Bank.
The agreement, which was inked at AFC’s recently concluded Investor Day in London, will help the organisation fulfil its mission of expediting the development of vital industrial and infrastructure assets throughout Africa.
This transaction is strategically significant, highlighting AFC’s access to various liquidity sources beyond traditional capital markets and expanding its tenor profile in an economic context marked by global market volatility and changing investor dynamics. AFC continues to show that it can provide flexible, economical cash to assist high-impact projects around the continent by obtaining medium-term funding from a significant export credit organisation like India Exim.
This facility reflects a shared commitment to furthering infrastructure development and economic cooperation between Africa and India, and it expands upon an existing relationship with India Exim Bank. The deal strengthens AFC’s commitment to broadening its finance base and strengthening strategic relationships with important Asian financial partners, building on the successful US$100 million financing that was completed in 2021.
”This facility is an important milestone in our long-standing partnership with India Exim Bank and reflects our shared commitment to advancing infrastructure development across Africa,” stated Banji Fehintola, Executive Board Member and Head of Financial Services at AFC. Delivering transformative projects on the continent requires access to long-term, diversified financing, and AFC continues to be at the forefront by utilising strategic partnerships with top institutions to expand our influence and quicken Africa’s industrialisation.
In order to fulfil its mission, AFC is dedicated to fortifying alliances and opening up new sources of funding as it expands its footprint in international funding markets. For vital infrastructure projects that promote industrialisation, strengthen regional integration, and foster sustainable economic growth throughout Africa, the Corporation acts as a catalyst for fund mobilisation.
Established in 2007, Africa Finance Corporation (AFC) was created to catalyse practical infrastructure and industrial investment across Africa. Its approach draws on specialist industry expertise and focuses on delivering financial and technical advisory, project structuring, project development and risk capital. In doing so, AFC seeks to tackle Africa’s infrastructure needs and support sustainable economic growth.
After 19 years, AFC has established itself as Africa’s go-to partner for investing in and delivering vital, high-quality infrastructure assets that offer crucial services across the core infrastructure sectors of telecommunications, transportation, heavy industry, power, and natural resources. Since its founding, AFC has spent more than US$18.5 billion in 36 African nations, and it currently has 48 members.
