By: Energy capital & power

Multilateral finance institution Africa Finance Corporation (AFC) has closed a $1.5 billion syndicated loan with multiple lenders from the Middle East, Africa and Europe.

The loan is AFC’s largest debt facility and will support the bank’s general corporate purposes, including capacity to finance strategic infrastructure and industrialization projects across Africa.

Banji Fehintola, Executive Board Member and Head of Financial Services of AFC said the loan underscores the institution’s role in bridging Africa’s infrastructure needs with global capital.

“This landmark transaction reinforces AFC’s standing as a trusted institution in the global capital markets and demonstrates our ability to mobilize capital at scale for Africa,” stated Fehintola.

The loan diversified AFC’s capital and partner base, attracting new participants such as Bank of Communications, Burgan Bank, Export Development Bank of Egypt and Hua Nan Bank.