Africa Finance Corporation secures $100 million loan from India Exim Bank for infrastructure projects
via Punch Nigeria2 min read
The Africa Finance Corporation AFC has obtained a five-year $100 million loan facility from the Export-Import Bank of India India Exim Bank. This agreement, signed during AFC’s Investor Day in London, aims to strengthen AFC's funding base for investments in critical infrastructure and industrial projects across Africa. The facility will support high-impact projects in transport, energy, and industrial assets. According to AFC, this deal extends its funding tenor and reinforces access to cost-efficient capital from export credit institutions. Banji Fehintola, AFC’s Executive Board Member and Head of Financial Services, stated that this facility is an important milestone in their long-standing partnership with India Exim Bank. This agreement follows a previous $100 million financing secured in 2021 between the two institutions, indicating a growing financial relationship between Africa and India. Analysts suggest this transaction demonstrates AFC’s ability to diversify its funding, reducing reliance on more expensive conventional sources like Eurobond markets. The deal also reflects a broader trend among African development finance institutions to engage non-Western lenders, particularly in Asia, to address the continent’s infrastructure financing gap. AFC plans to continue pursuing strategic partnerships to unlock new funding pools, playing a catalytic role in mobilizing capital for infrastructure projects that boost regional integration, support industrialization, and drive s
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