The Africa Finance Corporation (AFC) is a regional entity established through a public–private partnership to serve Africa, particularly providing financing solutions to address infrastructural needs in the region. With the view of achieving its mandate, AFC has established strategic partnerships with other regional financial institutions that also prioritize development and the financial impact of their investments. AFC has an investment portfolio worth about US$ 2 billion, and a track record of making climate change adaptation and mitigation investments that enhance livelihoods through renewable energy generation (e.g. hydropower and wind), sustainable transport and low-emissions projects, by employing equity and loans. Leveraging its well-established partnerships and successful track record in the African region, AFC sought accreditation to GCF in order to continue, through instruments such as loans, equity and guarantees, to implement projects that address the region’s infrastructural gaps whilst promoting low-emission and climate-resilient development pathways.
The Green Climate Fund and Africa Finance Corporation sign project agreement for the Infrastructure Climate Resilient Fund (ICRF)
23 Oct 2023 / The Green Climate Fund (GCF) and Africa Finance Corporation (AFC) signed a project agreement to begin implementing the Infrastructure Climate Resilient Fund (ICRF). As an innovative finance instrument established to climate proof Africa’s infrastructure, ICRF will introduce climate-resilient infrastructure as a new asset class in the African investment landscape.
GCF and Africa Finance Corporation drive low-emission development in Africa
24 Oct 2017 / GCF will help African countries ramp up their economic growth in ways that do not exacerbate climate change with the signing today of an agreement with AFC.
