The African Development Bank Group (AfDB) has committed $40 million to the Alliance for Green Infrastructure in Africa – Project Development Fund, securing the fund's first close at $118 million.
The investment, a mix of grants, junior equity, and commercial equity, aims to de-risk early-stage projects and attract billions in private capital for green infrastructure across Africa. Partners include KfW, BOAD, the UK's FCDO, Three Cairns Group, and the Soros Economic Development Fund.
The initiative targets $500 million to unlock a $10 billion pipeline in sectors such as renewable energy, sustainable transport, and ICT. Fund manager Africa50 says the capital will fast-track bankable projects, strengthen local capacity, and boost economic growth.
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AfDB Vice President Solomon Quaynor said the move is "a bold declaration" of the Bank's readiness to share early-stage risks with developers, ensuring a scalable flow of climate-resilient projects.
For SMEs in clean energy, water, and ICT, this opens fresh opportunities to tap into Africa's growing green economy.
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