Africa50 receives $50 million boost to speed up development of key infrastructure initiatives

Africa50 has garnered $50m in new commitments from two prominent international development finance institutions, aiming to expedite the development of infrastructure projects that can withstand the impacts of climate change across Africa.

n

These investments were unveiled on Wednesday during the 2026 Infra for Africa Forum and Africa50 General Shareholders Meeting, which took place in Dar es Salaam, Tanzania.

n

Italy's Cassa Depositi e Prestiti has pledged $40m, while Proparco, the private sector financing arm of France's Agence Française de Développement Group, has committed $10m to the Alliance for Green Infrastructure in Africa – Project Development Fund, known as AGIA-PD.

n

The AGIA Project Development Fund, managed by Africa50, provides vital early-stage risk capital to develop bankable green infrastructure projects across the continent, tackling a significant obstacle to infrastructure financing in Africa.

n

The latest commitments bolster the fund's momentum, which achieved its first close of $118m in August 2025 with support from the African Development Bank, Germany's KfW Development Bank, the West African Development Bank, the UK's Foreign, Commonwealth and Development Office, the Soros Economic Development Fund, and the African Climate Foundation.

n

Africa50 aims to secure $400m for the fund, which could potentially generate up to $10bn in bankable green infrastructure investment opportunities across Africa.

n

Africa50 Group Chief Executive Officer, Alain Ebobissé, emphasized that infrastructure remains crucial for connecting capital with investment opportunities that can drive Africa's economic transformation and support a more sustainable and resilient future.

n

The forum, hosted by the Government of Tanzania at the Julius Nyerere International Convention Centre, brought together African heads of state, investors, project developers, and policymakers to discuss strategies for financing infrastructure development across the continent.

n

The conference featured addresses by Tanzanian President Samia Suluhu Hassan and African Development Bank President Sidi Ould Tah, who also serves as the chairman of Africa50.

n

Head of Debt and Equity Funds at CDP International Cooperation, Stephen Mari, expressed pride in becoming one of the founding limited partners of AGIA-PD, noting that the fund aligns with the objectives of the Italian Climate Fund and Italy's Mattei Plan for Africa.

n

Head of Private Equity for Africa and the Middle East at Proparco, Tibor Asboth, stated that the investment would help expand the pipeline of green infrastructure projects while supporting Africa's energy transition and broader development objectives.

n

Executive Director of the AGIA Project Development Fund at Africa50, Anas Charafi, said the new commitments would strengthen efforts to mobilize capital for project preparation, which remains the biggest bottleneck to attracting private investment into African infrastructure.