Africa50 Secures US$50 Million for Climate-Resilient Infrastructure Investment

Africa50 has secured US$50 million from international development finance institutions to support early-stage investment in climate-resilient infrastructure projects across Africa. The funding will strengthen the platform’s ability to develop and prepare infrastructure projects for financing. Africa50 works with governments and investors to de-risk projects and move them towards implementation.

In addition, the platform has 38 shareholders. These include 33 African countries and the African Development Bank (AfDB). Other shareholders include the Central Bank of West African States (BCEAO), Bank Al-Maghrib, the Public Investment Corporation (PIC) and the African Reinsurance Corporation.

CDP and Proparco Join the Fund

Two new development finance institutions have joined the fund through the latest commitments. They are Cassa Depositi e Prestiti (CDP) and Proparco. CDP is Italy’s financial institution for development cooperation, while Proparco is the private sector financing arm of the Agence Française de Développement Group.

AGIA-PD reached its first close at US$118 million in August 2025. Initial investors included the AfDB, German Development Cooperation through KfW and the West African Development Bank (BOAD). Other investors included the UK’s Foreign, Commonwealth & Development Office (FCDO), the Soros Economic Development Fund and the African Climate Foundation (ACF). Meanwhile, the fund has a US$400 million target. Africa50 aims to use the capital to generate up to US$10 billion in bankable green infrastructure investment opportunities across Africa.

Expanding the Green Infrastructure Pipeline

With the latest commitments, Africa50 can provide more capital for early-stage projects. These projects need development funding and structuring before they can attract larger investments.

For CDP, the investment supports its wider climate and infrastructure priorities. Stephen Mari, head of debt and equity funds at CDP International Cooperation, said CDP was pleased to join the fund as a founding limited partner.

“We are honoured to be among the founding Limited Partners (LPs) of the AGIA-PD Fund. Its mission to advance infrastructure development across Africa resonates strongly with the priorities of the Italian Climate Fund and the ambitions of the Mattei Plan. We look forward to deepening this collaboration as these resources are deployed in the years ahead.”

For Proparco, the fund provides an opportunity to support more green infrastructure projects. It also contributes to Africa’s energy transition. Similarly, Tibor Asboth, head of private equity for Africa and the Middle East at Proparco, said the organisation supports an initiative designed to increase the number of green infrastructure projects in Africa.

“Through its manager, Africa50, AGIA-PD participates in the acceleration of the energy transition on the continent and generates significant development impacts for local communities.”