Africa50 has secured another US$50 million for the Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD), strengthening efforts to finance early-stage climate-resilient infrastructure projects across the continent.
The new commitments comprise US$40 million from Cassa Depositi e Prestiti (CDP) and US$10 million from Proparco, which signed subscription agreements during the 2026 Infra for Africa Forum in Dar es Salaam, Tanzania.
Managed by Africa50, AGIA-PD is targeting US$400 million in blended project-development capital and ultimately aims to help generate as much as US$10 billion in bankable green infrastructure investment opportunities across Africa.
Key Overview
- CDP has committed US$40 million, while Proparco has committed another US$10 million to AGIA-PD.
- The fund previously achieved a US$118 million first close in August 2025.
- AGIA-PD has a US$400 million fundraising target for early-stage project development.
- Its focus includes renewable energy, sustainable transport, ICT and other climate-resilient infrastructure.
- The broader AGIA initiative aims to generate up to US$10 billion of investment opportunities for private-sector investors.
- Africa50 now has 38 shareholders, including 33 African countries and several major African financial institutions.
CDP and Proparco Expand AGIA-PD Investor Base
The latest commitments deepen the pool of development-finance institutions backing Africa50’s strategy for moving African infrastructure projects from concept to bankability.
CDP’s US$40 million participation is linked to the Italian Climate Fund, an instrument established by Italy’s Ministry of Environment and Energy Security and managed by CDP to support sustainable development and climate-transition investments. According to the investment announcement, the fund is also aligned with Italy’s Mattei Plan for strengthening economic and development partnerships with Africa.
Proparco, the private-sector financing arm of the AFD Group, is contributing US$10 million. Its participation is intended to support the development of additional green infrastructure projects while advancing Africa’s energy transition and generating development benefits for local communities.
The new capital builds on AGIA-PD’s first close in August 2025, when it secured US$118 million from investors including the African Development Bank, KfW on behalf of German Development Cooperation, the West African Development Bank, the UK’s Foreign, Commonwealth & Development Office, the Soros Economic Development Fund and the African Climate Foundation.
At that close, the African Development Bank alone provided US$40 million across grants and equity, while Germany, through KfW, provided €26 million.
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Tackling Africa’s Project Development Bottleneck
AGIA-PD is focused on one of the most difficult stages of infrastructure financing: turning promising concepts into projects sufficiently developed to attract large-scale private capital.
Early-stage infrastructure projects face costs associated with feasibility studies, engineering, environmental assessments, regulatory approvals, transaction structuring and other development work before construction financing can be secured.
Africa50 Group CEO Alain Ebobissé said the latest investments would help address project development as a critical bottleneck to private infrastructure investment in Africa.
AGIA-PD is designed to provide early-stage risk capital for this development process. It will work with both established developers and local and emerging developers, helping expand the pipeline of projects capable of reaching financial close.
Target sectors include renewable energy, sustainable transport and ICT, while climate resilience and Africa’s transition toward lower-carbon infrastructure remain central to the mandate.
From $400M in Capital to $10B in Investment Opportunities
AGIA-PD forms part of the broader Alliance for Green Infrastructure in Africa initiative launched by Africa50, the African Development Bank and the African Union Commission at COP27 in Sharm El Sheikh.
The overall AGIA structure seeks to mobilize up to US$500 million of blended capital. Of that, as much as US$100 million is intended for project preparation through existing African Development Bank facilities, while up to US$400 million is earmarked for project development through AGIA-PD.
The ambition extends significantly beyond the size of the fund itself. By using development capital to prepare commercially viable infrastructure projects, AGIA aims to create a pipeline capable of attracting up to US$10 billion in subsequent private investment opportunities.
That multiplier effect is central to the fund’s blended-finance strategy: public, development and philanthropic capital can absorb or reduce risks during the earliest stages of project development, potentially making projects more attractive to institutional and commercial investors later.
The latest US$50 million commitment therefore adds more than financing to AGIA-PD. It expands the international investor base behind an African-led platform designed to convert climate infrastructure needs into investable projects — with the longer-term objective of mobilizing substantially larger volumes of private capital into the continent’s green infrastructure buildout.
Sources: Africa50 / Cassa Depositi e Prestiti / Disrupt Africa
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