The Africa Finance Corporation (AFC) has secured a $100 million, 10-year loan facility from FinDev Canada; marking its first-ever transaction in the Canadian market and FinDev Canada’s inaugural infrastructure financing in Sub-Saharan Africa.

The landmark agreement, according to a statement sent to Oracle Intelligence, would strengthen AFC’s long-term funding base and support a growing pipeline of renewable energy and low-carbon transport projects across the region; reinforcing the Corporation’s commitment to climate-resilient infrastructure and sustainable economic growth.

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FinDev Canada, Canada’s bilateral development finance institution, said the partnership reflects its mission to back high-impact, climate-aligned projects in emerging markets. “We are proud to invest in an institution which aligns with our impact development goals, particularly market development and climate and nature action,” said Paulo Martelli, Vice President and Chief Investment Officer at FinDev Canada.

AFC described the transaction as a significant milestone that deepens North American participation in Africa’s infrastructure development. “We are delighted to partner with FinDev Canada on this milestone transaction,” said Banji Fehintola, Executive Board Member and Head of Financial Services at AFC. “This partnership reflects our shared commitment to accelerating sustainable development across the continent through high-impact, climate-resilient infrastructure. The transaction not only diversifies AFC’s funding base but also deepens North America’s participation in Africa’s growth story.”

The new facility comes as AFC continues to attract global institutional and development finance partners. The Corporation’s growing pool of lenders includes Cassa Depositi e Prestiti SpA (Italy), KfW (Germany), India Exim Bank, The Export-Import Bank of the Republic of China, the U.S. International Development Finance Corporation (DFC), DEG (Germany), FMO (Netherlands), and Proparco (France).

AFC said the proceeds from the facility will support its long-term funding strategy and enable it to deliver innovative financial solutions that tackle climate change, expand energy access, and promote sustainable industrial growth across the continent.

The agreement underscores the growing confidence of global investors in AFC’s governance standards, credit strength, and proven capacity to execute transformational projects that drive inclusive and sustainable development.