Green Climate Fund Approves InfraCredit’s Accreditation as a Direct Access Entity

The Accreditation opens a direct route to GCF climate finance for eligible infrastructure investments and builds on InfraCredit’s work to mobilise long-term local-currency capital for sustainable infrastructure projects.

Lagos, Nigeria | 29 October 2026: Infrastructure Credit Guarantee Company Plc (“InfraCredit”), Nigeria’s ‘AAA’-rated specialised infrastructure credit guarantee institution, is pleased to announce that the Board of the Green Climate Fund (“GCF” or “the Fund”) has approved its accreditation as a Direct Access Entity at the Fund’s 46th Board Meeting (B.46), held on 28 October 2026. The accreditation creates a direct pathway for InfraCredit to develop and submit climate finance proposals to the GCF, building on its established role in mobilising long-term local-currency capital for low-emission and climate-resilient infrastructure investments.

As a Nigerian Direct Access Entity, InfraCredit will be able to originate GCF funding proposals in partnership with domestic project sponsors, financial institutions and other stakeholders, helping to strengthen country ownership and translate Nigeria’s climate and development priorities into investable infrastructure programmes.

InfraCredit has facilitated over ₦650 billion (US$500million) in guaranteed debt, enabling domestic institutional investors to finance infrastructure projects through Nigeria’s debt capital market. This work has evolved beyond credit guarantees to incorporate complementary financing approaches, including project preparation, concessional capital, construction bridge finance and risk-sharing arrangements with development partners, to address investment barriers and expand the range of infrastructure projects that can access long-term financing.

Through the Climate Finance Blending Facility (CFBF), established with first-loss capital from the UK Government, channelled via the Foreign, Commonwealth & Development Office (FCDO) and British International Investment (BII), InfraCredit combines concessional finance with credit enhancement to mobilise domestic investment in distributed renewable energy. GCF accreditation creates an additional avenue to build on this experience, connecting international climate finance with InfraCredit’s existing financing platform and eligible pipeline.

This model is particularly relevant in Nigeria, where financing constraints, perceived project risks and the mismatch between long-term infrastructure needs and available financing can impede the deployment of climate solutions. Blending appropriately structured international climate finance with naira-denominated private capital can improve project bankability while reducing reliance on foreign-currency borrowing for 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 breadth reflects the potential to apply InfraCredit’s financing approach beyond renewable energy generation to the wider infrastructure systems and essential services that underpin climate resilience and sustainable economic activity.

Potential areas for future programme development include distributed renewable energy and productive-use applications, energy-efficient and climate-resilient buildings, sustainable transport, and infrastructure that strengthens the resilience of essential services.

By combining credit enhancement with appropriate concessional and catalytic financing, InfraCredit aims to address investment risks and mobilise long-term domestic capital for eligible projects that contribute to climate mitigation and adaptation. As a Direct Access Entity, InfraCredit can develop and submit funding proposals directly to the GCF for consideration, with each proposal subject to the Fund’s applicable assessment and approval processes.

The accreditation followed the GCF’s assessment of InfraCredit’s institutional capacities against the Fund’s accreditation requirements, including financial management, governance, environmental and social safeguards, integrity and gender-related systems. It provides a basis for further engagement with the Fund to develop financing proposals that align with climate priorities and connect international climate finance with domestic capital markets.

Statements

Achala Abeysinghe, Director of the Green Climate Fund’s Department of Investment Services, said:

“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.

“The partnership reflects GCF’s commitment to using innovative financial solutions to reduce risk, mobilize private capital and expand the pipeline of bankable climate investments.”

Chinua Azubike, Chief Executive Officer of InfraCredit, said:

“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. Through platforms such as the Climate Finance Blending Facility, we are already applying this approach to expand clean energy access and mobilise domestic institutional investment. Accreditation further expands our access to international climate finance, creating opportunities to scale this financing model and mobilise additional domestic capital for low-emission and climate-resilient infrastructure.”

For more information, please contact:

Infrastructure Credit Guarantee Company PLC

Media Enquiries: [email protected] / [email protected]

Guarantee Enquiries: [email protected]

Phone: +234 6312300

About InfraCredit

InfraCredit (www.infracredit.ng) was established in 2017 as a first-of-its-kind ‘AAA’-rated specialised infrastructure credit guarantee institution, created to support long-term local currency infrastructure financing in Nigeria. InfraCredit’s guarantees act as a catalyst to attract long-term domestic institutional capital from pension funds, insurance firms, and other investors into creditworthy infrastructure projects, thereby deepening Nigeria’s debt capital markets.

InfraCredit is backed by the Nigeria Sovereign Investment Authority, KfW Development Bank, International Finance Corporation, and domestic institutional investors including Leadway Assurance, Access ARM Pensions, and CardinalStone Pensions.

In April 2025, InfraCredit became a publicly listed company and was admitted to trading on the NASD OTC Securities Exchange, marking a significant step in broadening domestic institutional ownership. It maintains the highest domestic financial strength ratings accorded to any financial institution by Agusto & Co., Global Credit Ratings,   Intelligence Africa, and Fitch Ratings, which has rated InfraCredit two notches above Nigeria’s sovereign rating. InfraCredit is the subject of two Harvard Business School case studies taught in the HBS MBA programme.

About the Green Climate Fund

The Green Climate Fund (GCF) is the world’s largest dedicated climate fund, created to address the climate crisis. GCF’s mandate is to foster low-emission, climate-resilient development pathways in developing countries.