AFC secures Italian infrastructure loan
The Africa Finance Corporation (AFC) has secured a EUR 250 million ten-year loan facility from Italy’s Cassa Depositi e Prestiti (CDP), backed by an 80% guarantee from Sace.
The funding supports infrastructure and renewable energy projects in Africa, with a focus on Italian supply chain opportunities. Part of the financing is earmarked for components for the Lobito railway corridor (pictured), which will link Angola to Zambia and the DR Congo.
"We're strengthening business and technological relations between Italy and Africa," said CDP CEO Dario Scannapieco. The project is expected to support regional industrialisation and improve Africa’s role in global trade according to Banji Fehintola, executive board member and head of financial services at AFC. (js)