Africa50, the pan-African infrastructure investment platform, has announced the first close of the Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD) at $118 million, marking a major step forward in mobilizing capital for climate-resilient infrastructure across the continent.
The AGIA-PD fund, managed by Africa50, is designed to blend public, private, and philanthropic capital to unlock early-stage financing for transformative green projects. Its mission is to accelerate Africa’s transition to net-zero emissions by supporting initiatives in renewable energy, sustainable transport, and digital infrastructure.
This initial close has attracted a diverse group of founding investors, including:
- African Development Bank (AfDB)
- German Development Cooperation via KfW
- West African Development Bank (BOAD)
- UK’s Foreign, Commonwealth & Development Office (FCDO)
- Soros Economic Development Fund
- African Climate Foundation (ACF)
The fund aims to increase the pipeline of bankable green infrastructure projects, catalyze private sector investment, and promote inclusive, sustainable growth across Africa.
Solomon Quaynor, Vice President for Private Sector, Infrastructure and Industrialization at the AfDB, remarked:
Through this $40 million spanning grants, junior equity, and commercial equity, the African Development Bank is pioneering a comprehensive approach that will unlock Africa’s vast green infrastructure potential.
The AGIA initiative was first unveiled at COP27, and the successful first close of its project development fund marks a significant transition from concept to implementation.
Alain Ebobissé, CEO of Africa50, stated:
AGIA has moved from ambition to execution. This first close is a powerful testament to that progress. We are deeply grateful to our founding partners and investors for their trust and commitment.
Ebobissé emphasized that the fund will play a critical role in unlocking early-stage capital, strengthening local capacity, and accelerating the development of bankable green infrastructure projects. Africa50, as fund manager, is committed to driving this initiative forward and helping build a more sustainable, resilient, and prosperous Africa.
