Get Guardian on GoogleInfrastructure Credit Guarantee Company Plc (InfraCredit), Nigeria’s AAA-rated specialised infrastructure credit guarantee institution, has secured accreditation as a Direct Access Entity of the Green Climate Fund (GCF), opening a new channel for mobilising international climate finance into the country’s infrastructure sector.
The approval, granted at the Fund’s 46th Board Meeting held on October 28, 2026, will enable InfraCredit to develop and submit climate finance proposals directly to the GCF, potentially expanding funding for low-emission and climate-resilient infrastructure projects.
The accreditation is expected to strengthen the connection between international climate finance and Nigeria’s domestic capital market, particularly by enabling local institutional investors to participate in financing projects through naira-denominated instruments.
As a Direct Access Entity, InfraCredit can originate funding proposals in partnership with domestic project sponsors, financial institutions and other stakeholders, helping to translate Nigeria’s climate and development priorities into bankable infrastructure investments.
The development builds on the company’s record of mobilising long-term domestic capital through credit guarantees. InfraCredit said it had facilitated more than N650 billion, equivalent to about $500 million, in guaranteed debt, enabling institutional investors to finance infrastructure projects through Nigeria’s debt capital market.
Its financing approach has expanded beyond credit guarantees to include project preparation, concessional capital, construction bridge financing and risk-sharing arrangements with development partners to address investment barriers and improve the bankability of infrastructure projects.
Chief Executive Officer of InfraCredit, Chinua Azubike, said the accreditation would expand the institution’s access to international climate finance and strengthen its capacity to mobilise domestic investment for sustainable infrastructure.
“InfraCredit’s accreditation by the Green Climate Fund builds on our established work to mobilise long-term local-currency capital for infrastructure and our experience combining credit enhancement with concessional finance to address barriers to investment,” he said.
One of the platforms supporting this strategy is the Climate Finance Blending Facility (CFBF), established with first-loss capital from the United Kingdom Government, channelled through the Foreign, Commonwealth and Development Office (FCDO) and British International Investment (BII).
Through the facility, InfraCredit combines concessional financing with credit enhancement to attract domestic investment into distributed renewable energy projects.
The GCF accreditation provides an additional funding avenue for expanding this model by connecting international climate resources with InfraCredit’s existing financing platform and pipeline of eligible projects.
The approach is particularly relevant to Nigeria, where perceived investment risks, financing constraints and the mismatch between long-term infrastructure requirements and available funding have continued to limit the deployment of climate solutions.
By combining appropriately structured international concessional finance with naira-denominated private capital, InfraCredit aims to improve project bankability while reducing dependence on foreign-currency borrowing for infrastructure projects with local-currency revenues.
The accreditation covers six thematic areas of climate impact: health, food and water security; livelihoods of people and communities; infrastructure and the built environment; energy generation and access; transport; and buildings, cities, industries and appliances.
This creates opportunities for InfraCredit to extend its financing approach beyond renewable energy generation to other infrastructure systems and essential services critical to climate resilience and sustainable economic development.
Potential areas of intervention include distributed renewable energy and productive-use applications, energy-efficient and climate-resilient buildings, sustainable transport and infrastructure supporting the resilience of essential services.
By combining credit enhancement with concessional and catalytic financing, the institution intends to address investment risks and attract long-term domestic capital to eligible projects supporting climate mitigation and adaptation.
The accreditation followed an assessment of InfraCredit’s institutional capacity against the GCF’s requirements, including financial management, governance, environmental and social safeguards, integrity and gender-related systems.
However, accreditation does not automatically guarantee funding for proposed projects. Individual financing proposals will still be subjected to the Fund’s assessment and approval processes.
Commenting on the development, Director of the GCF’s Department of Investment Services, Achala Abeysinghe, said the accreditation would create a new avenue for using credit enhancement to attract long-term investment in climate-resilient infrastructure in Africa.
“We are pleased to welcome the accreditation of Infrastructure Credit Guarantee Company Plc. This opens a new avenue in Africa to use credit enhancement to unlock long-term investment in low-emission, climate-resilient infrastructure in Nigeria,” he said.
