The approval was granted at the GCF’s 46th Board Meeting on October 28, 2026. It authorises InfraCredit to develop and submit climate finance proposals directly to the Fund, potentially increasing access to funding for low-emission and climate-resilient infrastructure projects.
The accreditation is expected to strengthen the relationship between international climate finance and Nigeria’s domestic capital market. It will also create opportunities for local institutional investors to participate in infrastructure financing through naira-denominated financial instruments.
With its new status, InfraCredit can originate funding proposals alongside domestic project sponsors, financial institutions and other relevant stakeholders. The arrangement is expected to help convert Nigeria’s climate and development priorities into commercially viable infrastructure investments.
The development builds on InfraCredit’s existing efforts to mobilise long-term domestic financing through credit guarantees.
According to the company, it has facilitated more than N650 billion in guaranteed debt, equivalent to approximately $500 million, enabling institutional investors to support infrastructure projects through Nigeria’s debt capital market.
Beyond its traditional credit guarantee activities, InfraCredit has broadened its financing approach to address other barriers affecting infrastructure investments.
Its expanded offerings include project preparation, concessional capital, construction bridge financing and risk-sharing arrangements developed with development partners.
These financing mechanisms are designed to address investment constraints and improve the bankability of infrastructure projects, while supporting greater participation from domestic and international investors.
The Green Climate Fund accreditation provides InfraCredit with an additional channel to connect international climate funding with Nigeria’s infrastructure financing needs, particularly projects focused on reducing emissions and strengthening resilience to climate change.
SOURCE: The Guardian
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