Africa Finance Corporation (AFC) has secured a €250 million (approximately USD 289.2 million) 10-year term loan from Cassa Depositi e Prestiti (CDP), Italy’s national promotional and development finance institution. The announcement was made on Friday, June 20, 2025.
The financing will be directed toward infrastructure and renewable energy projects across the continent, with a particular emphasis on the Lobito Corridor—an ambitious rail project intended to boost trade and connectivity in Southern and Central Africa.
The corridor will facilitate the transport of agricultural products, minerals, and consumer goods from landlocked regions to international markets, passing through Angola and extending toward the borders of Zambia and the Democratic Republic of Congo (DRC).
“This collaboration reaffirms SACE’s commitment to creating new avenues for Italian companies to diversify their exports and explore growth opportunities,” said Alessandra Ricci, CEO of SACE, Italy’s export credit agency.
The loan is 80% guaranteed by SACE, which is wholly owned by the Italian Ministry of Economy and Finance.
This agreement is part of a broader strategic partnership between Italy and AFC aimed at mobilizing resources to support sustainable infrastructure development across Africa.
According to an official statement, the financing builds on commitments made during the Plan Mattei–Global Gateway Summit.
The event, attended by Italian Prime Minister Giorgia Meloni, European Commission President Ursula von der Leyen, and senior representatives from CDP, SACE, and AFC, affirmed a joint intent to collaborate on infrastructure initiatives throughout Africa.
AFC and CDP have been strengthening their partnership over the past several years. In May 2024, they signed a memorandum of understanding to deepen cooperation in financing African infrastructure.
The agreement combines the financial and technical expertise of both institutions to support projects focused on industrialization, natural resource development, and the energy transition.
A key component of the partnership is the creation of a joint platform to connect African and Italian companies.
This initiative aims to identify projects suitable for co-financing, foster cross-border investments, and promote industrial collaboration.
It also aligns with Italy’s strategy to support its companies in expanding into AFC member states.
Since its establishment in 2007, AFC has invested over USD 15 billion in infrastructure projects across 36 African countries, spanning sectors such as energy, transportation, natural resources, and industrial development.
The new partnership is expected to further strengthen economic ties between Italy and Africa while accelerating sustainable growth on the continent.
