In a strategic move redefining development finance, FinDev Canada has extended a $100 million facility to the Africa Finance Corporation (AFC) its first venture into Sub-Saharan infrastructure investment.
The 10-year loan is more than capital; it’s a signal of trust in Africa’s ability to lead its own green transition.
Beyond numbers, it signals a deeper era of North–South climate cooperation, channelling long-term capital into renewable energy and low-carbon transport projects designed to transform Africa’s infrastructure landscape.
The Deal in Detail: Financing for a Greener Future
FinDev Canada, established in 2018 as a subsidiary of Export Development Canada, exists to mobilise private investment for sustainable growth in emerging markets.
Its mandate is rooted in the UN Sustainable Development Goals (SDGs) and the Paris Agreement prioritizing inclusive, climate-positive finance through loans, equity, and guarantees.
On the African side, AFC stands as the continent’s premier infrastructure solutions provider, with 46 member states and more than USD 15 billion in cumulative investments across energy, transport, telecoms, and industrial projects.
The new financing will expand AFC’s long-term funding base and accelerate projects like solar and wind farms powering underserved regions and low-carbon urban rail systems, including a planned metro line in the Democratic Republic of Congo (DRC) that tackle both energy poverty and emissions growth.
“This transaction represents an opportunity for FinDev Canada to support a leading solutions provider financing critical infrastructure in Sub-Saharan Africa,” said Paulo Martelli, FinDev Canada’s Vice President and Chief Investment Officer.
Bridging Africa’s Infrastructure Gap
Sub-Saharan Africa’s infrastructure deficit which is estimated at USD 68–108 billion annually by the African Development Bank remains one of the biggest barriers to inclusive growth.
Add to that intensifying climate shocks: droughts, floods, and energy scarcity that jeopardise livelihoods and national stability.
Over 600 million people still lack access to electricity, while transport emissions are set to triple by 2050 without clean alternatives.
FinDev’s loan helps AFC attack these pain points directly through funding renewables, resilient infrastructure, and low-emission mobility that create jobs and enable sustainable growth.
One highlight is AFC’s DRC metro initiative, designed to ease congestion and reduce fossil fuel dependency in a country that is rich in minerals yet underdeveloped in infrastructure.
With AFC’s proven track record of delivering high-quality, bankable projects, the funds are expected to translate into real-world impact in a fast manner.
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Redefining North–South Climate Finance
Historically, climate finance between the Global North and South has underperformed. Developed nations pledged USD 100 billion annually by 2020, but delivery has often been slow, fragmented, or tied to donor agendas.
This deal offers a different model: patient, de-risked capital supporting African-led, Africa-owned solutions.
FinDev Canada’s entry complements AFC’s global lender roster including KfW (Germany), CDP (Italy), Proparco (France), and the U.S. International Development Finance Corporation (DFC) further diversifying its funding and strengthening its reputation as a “trusted gateway” for institutional investors.
It’s also reflective of a new generation of partnerships: collaborative, not monopolistic. By aligning with Canada’s Feminist International Assistance Policy and gender-lens investment framework, the deal ensures inclusion and environmental integrity remain central pillars.
The Bottom Line
This USD 100 million loan is a strategic bridge between two continents. For FinDev Canada, it cements credibility in Africa’s green finance ecosystem. For AFC, it strengthens its position as the go-to platform for high-impact, climate-aligned investments.
As the global climate clock ticks louder, North–South partnerships like this one are what real progress looks like: collaborative, catalytic, and continental in scale.
FinDev Canada and Africa Finance Corporation: Driving Sustainable Investment Across Africa
FinDev Canada is the development finance institution of Canada, established to support private sector growth in emerging markets with a focus on women’s economic empowerment, green growth, and inclusive business.
The FinDev Canada office and FinDev Canada address are located in Montréal, Quebec, where its operations are managed under the leadership of the FinDev Canada CEO.
The organisation offers competitive FinDev Canada salaries for professionals in impact investing, development finance, and sustainability.
Those seeking to join the institution can explore FinDev Canada careers, while insights into its impact, financials, and investment strategy are detailed in the FinDev Canada Annual Report, published yearly.
On the African side, the Africa Finance Corporation (AFC) serves as a multilateral financial institution dedicated to infrastructure development and industrial growth across the continent.
Headquartered in Lagos, Nigeria, the Africa Finance Corporation headquarters coordinates major investments in energy, transport, and natural resources.
The Africa Finance Corporation CEO leads a team known for structuring innovative deals and maintaining a strong Africa Finance Corporation credit rating, which reflects its robust financial stability.
With increasing operations in East Africa, the Africa Finance Corporation Kenya office supports regional projects, while AFC salaries remain competitive for top talent in finance and infrastructure development.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, and digital finance at Africa Digest News.
