Africa Finance Corporation (AFC) has secured a 250 million euro, which is about $289.2 million, 10-year term loan from Italy’s Cassa Depositi e Prestiti (CDP), the country’s development finance institution. The announcement was made on Friday, June 20, 2025.

The funding will support infrastructure and renewable energy projects, with a specific focus on the Lobito Corridor railway. This project aims to facilitate the export of agricultural products, minerals, and consumer goods by rail, extending through Angola to the borders of Zambia and the Democratic Republic of Congo (DRC). "This collaboration reaffirms SACE’s commitment to promoting new connections for Italian companies seeking to diversify their exports and embrace new growth opportunities," said Alessandra Ricci, Chief Executive Officer of SACE.

The loan is 80% guaranteed by SACE, Italy’s export credit agency, which is wholly owned by the Ministry of Economy and Finance. This transaction aligns with Italy’s strategic partnership with AFC to mobilize resources for infrastructure projects across Africa. The announcement noted, “The financing builds on engagement at the Mattei Plan-Global Gateway summit, attended by Italian Prime Minister Giorgia Meloni, European Commission President Ursula von der Leyen, CDP, SACE, and AFC, where the parties confirmed their intent to collaborate.”

AFC and CDP have been working together for years. In May 2024, they signed a memorandum of understanding to deepen their cooperation on African infrastructure financing. The agreement seeks to combine the two institutions’ technical and financial expertise to support projects in industrialization, resource development, and energy transition. It also aims to help Italian companies expand internationally, particularly in AFC member states.

As part of this partnership, a joint platform was announced to facilitate exchanges between African and Italian firms. It will help identify co-financed projects, promote cross investments, and foster industrial collaboration. The initiative is expected to strengthen economic ties between Italy and Africa.

Since its founding in 2007, AFC has invested over $15 billion in 36 African countries across sectors including energy, transport, natural resources, and industrial infrastructure.