Sustainable finance in Africa and developing countries: who funds what
521 matching capital sources on the ASFIP database · Last checked October 2026
Sustainable finance means investment and lending that takes environmental, social and governance (ESG) factors into account — from green loans and bonds to impact investment, blended finance and climate funds. For project developers, it is simply the pool of capital that will price your environmental and social impact into its decision.
This guide explains the main types of sustainable finance, how to tell which fits your project, and lists the funders on our database financing sustainable projects in Africa and developing countries.
Find the right route for your project
Ask iSustain Advisor Live about sustainable finance for your country, sector and project stage. Your free result includes a project summary, match count and three named sample organisations.
Types of sustainable finance
Green finance: projects with a clear environmental benefit, such as renewable energy, efficiency, clean transport and water. Social finance: health, education, housing, financial inclusion. Sustainability-linked finance: loans or bonds whose pricing depends on the borrower hitting ESG targets. Blended finance: public or philanthropic money used to reduce risk and attract private investors. Impact investment: equity or debt targeting measurable impact alongside returns.
Matching the instrument to your stage
Grants and technical assistance for early-stage and feasibility work; concessional debt and guarantees for projects close to revenue; commercial green loans and bonds for operating assets and established companies; equity for growing businesses rather than single assets.
What sustainable finance providers ask for
A clear impact case with measurable indicators, environmental and social safeguards, sound governance, and alignment with frameworks such as the Green Bond Principles or national green taxonomies. Getting this documentation ready early saves months later.
The funders
Each profile shows mandate, instruments and sector appetite. Verified contacts and application routes are available to members.
- BNDES - Brazilian Development BankDFI · BrazilBrazil's national development bank and manager of the Amazon Fund, financing renewable energy, forest restoration, sustainable industry and infrastructure across Brazil.DebtConcessional DebtEquity
- Central American Bank for Economic IntegrationMDB · HondurasThe development bank of Central America, accredited to the Green Climate Fund and Adaptation Fund, financing renewable energy, resilience and water infrastructure in the isthmus and associate member countries.DebtConcessional DebtGuarantees
- CIF Capital Market Mechanism / Climate Investment Funds windowsProgramme Window · United StatesClimate Investment Funds programme windows (ACT, REI, Industry Decarbonisation, Nature) plus a capital market mechanism issuing bonds against future reflows.Concessional DebtGrantsGuarantees
- Cassa Depositi e Prestiti Development FinanceDFI · ItalyItaly's national promotional institution and development finance arm, delivering Italian cooperation credit and the Mattei Plan for Africa alongside EU Global Gateway operations.DebtConcessional DebtEquity
- Asian Development BankMDB · PhilippinesThe principal multilateral development bank for Asia and the Pacific, financing climate mitigation and adaptation through sovereign lending, private sector operations, guarantees and technical assistance. ADB has committed to $100bn of cumulative climate finance to 2030 and hosts the Energy Transition Mechanism.DebtConcessional DebtEquity
- EIB GlobalMDB · LuxembourgThe EIB's dedicated arm for operations outside the EU, delivering the bank's Global Gateway commitments through sovereign and private lending, guarantees and intermediated credit lines in emerging markets.DebtConcessional DebtGuarantees
- CAF - Development Bank of Latin America and the CaribbeanMDB · VenezuelaLatin America's regional development bank, targeting green finance at 40% of its portfolio and financing climate infrastructure, biodiversity and adaptation across member countries.DebtConcessional DebtGuarantees
- European Investment BankMDB · LuxembourgEU lending arm financing large-scale climate and infrastructure projects in Africa.DebtConcessional DebtGuarantees
- FMO - Dutch Entrepreneurial Development BankDFI · NetherlandsDutch development bank focused on energy, agribusiness and financial institutions in Africa.DebtConcessional DebtEquity
- African Development BankMDB · Côte d'IvoireAfrica's premier multilateral development bank, financing infrastructure, energy and climate adaptation across the continent.DebtGuaranteesGrants
- Green Climate FundClimate Fund · South KoreaLargest dedicated global climate fund supporting mitigation and adaptation in developing countries.GrantsConcessional DebtEquity
- Global Fund for Coral ReefsBlended Finance Facility · MultilateralGlobal blended finance vehicle co-founded by UNCDF, UNEP and UNDP funding reef-positive businesses and community initiatives. Runs active portfolios across Kenya, Zanzibar, Mozambique, Comoros, Madagascar and Seychelles.GrantsEquityCatalytic Capital
- Global Innovation FundImpact Investor · United KingdomNon-profit investment fund providing grants, risk capital and equity to innovations that improve the lives of the poor, including climate adaptation and energy access in Africa.GrantsEquityConcessional Debt
- Development Bank of RwandaDFI · RwandaRwanda's national development bank and a GCF-accredited entity, lending into renewable energy, agriculture, water and green housing, and the delivery vehicle for several national climate lines.DebtConcessional DebtGuarantees
- Asian Development Bank Energy Transition MechanismProgramme Window · PhilippinesADB's flagship mechanism to retire coal assets early and finance clean replacement capacity in Indonesia, the Philippines, Viet Nam and Kazakhstan, using concessional and commercial capital in a layered structure.Concessional DebtDebtEquity
- West African Development BankMDB · TogoConcessional DebtDebtGuarantees
- Development Bank of NamibiaDFI · NamibiaNamibia's national development bank, lending into renewable energy IPPs, infrastructure, water and enterprise development.DebtConcessional DebtGuarantees
- Team Europe Just Energy Transition PartnershipsBlended Finance Facility · BelgiumCountry-level partnerships between G7 and partner governments (South Africa, Indonesia, Viet Nam, Senegal) mobilising concessional and private finance for coal transition and clean energy build-out.Concessional DebtGrantsGuarantees
- Global Energy Alliance for People and PlanetCatalytic & Enabling Capital · United StatesAlliance of the Rockefeller Foundation, IKEA Foundation and Bezos Earth Fund deploying catalytic grants and risk capital to accelerate renewable energy and energy access at scale in Africa and Asia.GrantsCatalytic CapitalConcessional Debt
- MacArthur Foundation Catalytic Capital ConsortiumCatalytic & Enabling Capital · United StatesConsortium mobilising catalytic capital - debt, equity and guarantees that accept disproportionate risk or concessionary return - to close capital gaps, including in African climate and inclusive finance.Catalytic CapitalConcessional DebtGuarantees
- EU AgriFIProgramme Window · BelgiumEuropean Union blending facility that channels risk capital and technical assistance to smallholder-linked agribusiness and food systems companies, deployed through partner financial institutions.Concessional DebtEquityGuarantees
- CeniarthCatalytic & Enabling Capital · United StatesImpact-first family office deploying roughly $400m into funds and intermediaries serving underserved communities, including African agriculture, financial inclusion and climate resilience.DebtConcessional DebtCatalytic Capital
- ECOWAS Bank for Investment and DevelopmentDFI · TogoFinancial arm of ECOWAS providing sovereign and private-sector loans, guarantees and equity across the 15 ECOWAS member states, recently accredited as a Green Climate Fund entity to channel climate finance into energy, agriculture and infrastructure projects.DebtConcessional DebtEquity
- EU Global Gateway - Africa-Europe Investment Package (EFSD+)Programme Window · BelgiumEU guarantee and blending window backing sustainable infrastructure and climate investment in Africa through EFSD+ open architecture.GuaranteesConcessional DebtGrants
- Green Climate Fund - Private Sector FacilityProgramme Window · South KoreaDedicated GCF window deploying concessional debt, equity and guarantees to crowd private capital into climate projects, including across Africa.Concessional DebtEquityGuarantees
- PT Sarana Multi Infrastruktur (PT SMI)DFI · IndonesiaIndonesia's state infrastructure financing company and GCF accredited entity, and the country platform manager for the Just Energy Transition Partnership and SDG Indonesia One.DebtConcessional DebtEquity
- Banque de Développement des États de l'Afrique CentraleMDB · Congo-BrazzavilleCEMAC's regional development bank financing infrastructure, energy, agriculture and industrial projects across Cameroon, CAR, Chad, Congo, Gabon and Equatorial Guinea.DebtConcessional DebtEquity
- Etihad 7Blended Finance Facility · United Arab EmiratesUAE-led multi-stakeholder development finance initiative launched in 2022 to mobilise funding (targeting 100 million people with clean power by 2035) for renewable energy projects across Africa, bringing together ADFD, Masdar, ECI and other UAE entities; forms the umbrella for the US$4.5bn Africa Green Investment Initiative announced at COP28.Concessional DebtGrantsEquity
- Climate Investment FundsClimate Fund · United StatesMulti-donor concessional climate finance vehicle deployed through MDBs.Concessional DebtGrantsGuarantees
- Inter-American Development BankMDB · United StatesThe main development bank for Latin America and the Caribbean, financing climate and sustainability programmes with sovereign lending, results-based instruments and dedicated climate windows including the Amazonia Forever programme.DebtConcessional DebtGrants
- British International InvestmentDFI · United KingdomUK development finance institution investing in productive, sustainable and inclusive African businesses.DebtEquityMezzanine
- ProparcoDFI · FrancePrivate-sector arm of Agence Française de Développement, active across Francophone and Anglophone Africa.DebtConcessional DebtEquity
- Agence Française de DéveloppementDFI · FranceConcessional DebtDebtGrants
- BIO - Belgian Investment Company for Developing CountriesDFI · BelgiumDebtEquityMezzanine
- KfW Development BankDFI · GermanyConcessional DebtDebtGrants
- SEFA - Sustainable Energy Fund for AfricaBlended Finance Facility · Côte d'IvoireAfDB-hosted catalytic fund de-risking early-stage renewable energy projects.GrantsConcessional DebtEquity
- Rockefeller FoundationFoundation · United StatesPhilanthropic foundation funding energy access and climate resilience initiatives in Africa.GrantsCatalytic CapitalGuarantees
- Open Road AllianceCatalytic & Enabling Capital · United StatesProvides bridge loans and contingency capital to social and climate impact organisations facing unexpected roadblocks that threaten an otherwise viable project.DebtCatalytic CapitalGrants
- Fund for Responding to Loss and Damage (FRLD)Climate FundThe Fund for responding to Loss and Damage (FRLD), an operating entity under the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC), addresses the growing needs of vulnerable communities in developing countries facing the irreversible impacts of climate change. By financing recovery initiatives from climate-related losses and damage, the Fund empowers communities to rebuild and adapt. It strives for country-led locally driven solutions, ensuring interventions are aligned to country needs, priorities and contexts.Concessional DebtDebtGrants
- National Empowerment FundDFI · South AfricaSouth African state-owned development finance institution that funds black-owned businesses, including an Alternative Energy Solutions Fund (with the dtic) providing loans and equity for renewable/backup energy installations. Also offers women empowerment and industrialisation funds relevant to green SMEs.DebtEquityConcessional Debt
- Bamboo Capital Partners – BLOC Smart Africa Impact FundBlended Finance Facility · LuxembourgBlended-finance technology impact fund launched by Bamboo Capital Partners with the governments of Luxembourg and Côte d'Ivoire as anchor sponsors under the Smart Africa Alliance, investing in tech-enabled solutions including clean energy access across West and Sub-Saharan Africa.EquityCatalytic CapitalDebt
- Blue AllianceImpact Investor · NetherlandsNon-profit and impact investment platform co-managing large marine protected areas in East Africa and channelling capital, including Global Fund for Coral Reefs money, into reef-positive local businesses. Partners with the Zanzibar Ministry of Blue Economy and Fisheries.EquityGrantsCatalytic Capital
- Emirates Development BankDFI · United Arab EmiratesUAE state development bank offering bespoke solar and renewable-energy financing programmes domestically, and committed AED 1.3 billion under IRENA's Energy Transition Accelerator Financing (ETAF) platform, a facility explicitly designed to help unlock renewable energy investment in developing countries including in Africa.DebtConcessional DebtGuarantees
- Kenya Development CorporationDFI · KenyaKenya's consolidated national development finance institution (merging former Industrial and Commercial Development Corporation, Development Bank of Kenya and Tourism Finance Corporation) offering long-term debt and equity to industrial, agricultural and tourism projects, including green industrial investments.DebtEquityConcessional Debt
- Mitigation Action FacilityClimate FundThe Mitigation Action Facility is a go-to platform providing technical support and climate finance for ambitious mitigation projects with the aim of decarbonising key sectors of the economy and society. The Mitigation Action Facility funds ambitious climate change mitigation projects to implement Nationally Determined Contributions (NDCs) and long-term strategies (LTS) that are crucial for achieving the Paris Agreement goals. The Call for Projects 2026 will offer climate finance for the implementation of mitigation projects aligned with new ambitious NDCs. While the Mitigation Action Facility primarily focuses on three priority sectors, it remains open to cross-sectoral projects linked to one of the priority sectors. As highlighted in the Sixth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC) , energy, transport and industry together account for 73% of global annual greenhouse gas (GHG) emissions (as of 2021). To shift the targeted sectors towards a carbon-neutral development pathway, the Mitigation Action Facility selects innovative projects that can catalyse sector-wide transformational change. These efforts can help ܪll the shortfall in climate finance required to avoid the worst impacts of climate change. Please check the General Information Document (GID) for more informationConcessional DebtDebtGrants
- Nedbank Corporate and Investment Banking – Sustainable FinanceCommercial Investor · South AfricaSouth African commercial bank's corporate and investment banking arm structures green loans, sustainability-linked loans and green bonds for renewable energy, green buildings and industrial decarbonisation, including IFC-backed green loan facilities and a published Sustainable Finance Fundraising Framework.DebtGreen BondsGuarantees
- South Africa Green Fund (Department of Forestry, Fisheries and the Environment / DBSA)Climate Fund · South AfricaSouth African national government fund, capitalised by National Treasury and managed by the DBSA on behalf of the Department of Forestry, Fisheries and the Environment, providing grants, loans and equity to catalyse innovative green economy projects across mitigation, adaptation and green cities themes.GrantsDebtEquity
- Africa Enterprise Challenge FundBlended Finance Facility · KenyaGrantsConcessional DebtCatalytic Capital
- Bank of Industry NigeriaGovernment Agency · NigeriaDebtConcessional DebtGreen Bonds
- East African Development BankMDB · UgandaDebtEquityGuarantees
- Ireme Invest (Rwanda Green Investment Facility)Blended Finance Facility · RwandaConcessional DebtGrantsGuarantees
- Nature Conservancy Africa (NatureVest)Foundation · United StatesGrantsCatalytic CapitalDebt
- Nordic Environment Finance CorporationDFI · FinlandGrantsConcessional DebtEquity
Showing 53 of 521 matching capital sources. The remaining 468 — including their verified routes and eligibility criteria — are reserved for members.
Common questions
- What is sustainable finance?
- Finance that considers environmental, social and governance factors — including green and social loans and bonds, sustainability-linked finance, impact investment, blended finance and climate funds.
- What is the difference between sustainable finance and climate finance?
- Climate finance is the part of sustainable finance aimed specifically at cutting emissions or adapting to climate change. Sustainable finance also covers social and wider environmental goals.
- How do I find sustainable finance for my project?
- Match your stage and instrument need to funder type, then shortlist funders whose geography and sector mandate cover you. Our matchmaking does this against every funder on the database.
Related guides
Official sources: ICMA Green Bond Principles · Climate Bonds Initiative · Convergence (blended finance). Reviewed by the iSustain Global research team against funders' published criteria.