India Exim Bank extends USD 100 mn loan to Africa Finance Corporation (AFC) to support India’s project exports in Africa

India’s partnership with Africa has evolved into a multidimensional engagement with trade playing a central role in fostering development. Over the past decade, India has emerged as one of Africa’s key trading partners, offering not just economic cooperation but also investments in infrastructure, capacity building and technology transfer. India’s total trade with Africa stood at USD 81.90 billion in FY 2024-25, with India’s export accounting for USD 42.70 billion.

To further strengthen the trade and demonstrate immeasurable goodwill for India, towards its partnership with Africa, under the Government of India’s “Focus Africa” initiative, India Exim Bank on May 19, 2026, has extended a facility of USD 100 million to Africa Finance Corporation (#AFC), to support India’s project exports in the African continent.

The present facility is in addition to a facility of USD 100 million extended to AFC in August 2021 to develop critical infrastructure required for the revival of Africa’s economies in the wake of Covid-19 pandemic, and another facility of USD 100 million, extended in March 2026, to support India’s project exports in Africa.

AFC is a treaty-based pan-African multilateral Financial Institution focused on infrastructure investment in Africa. There are 48 sovereign member states of AFC.