The Alliance for Green Infrastructure in Africa – Project Development Fund (AGIA-PD) has secured $50 million in new commitments from Italy’s Cassa Depositi e Prestiti (CDP) and Proparco to support the development of bankable green infrastructure projects across Africa. Managed by Africa50, the fund provides early-stage risk capital to address one of the continent’s biggest infrastructure financing challenges while targeting $400 million to unlock up to $10 billion in green infrastructure investments.
Key Overview
- CDP committed $40 million to AGIA-PD.
- Proparco pledged an additional $10 million.
- The commitments were announced during the 2026 Infra for Africa Forum in Dar es Salaam, Tanzania.
- Africa50 manages the climate-focused project development fund.
- The fund provides early-stage risk capital for bankable green infrastructure projects.
- Africa50 targets $400 million, with the potential to unlock up to $10 billion in green infrastructure investments.
The Alliance for Green Infrastructure in Africa – Project Development Fund (AGIA-PD) has secured $50 million in new commitments from Italy’s Cassa Depositi e Prestiti (CDP) and Proparco, strengthening efforts to finance the early development of green infrastructure projects across Africa.
The funding commitments were announced during the 2026 Infra for Africa Forum and Africa50 General Shareholders Meeting held in Dar es Salaam, Tanzania.
Under the agreement, CDP committed $40 million, while Proparco, the private sector financing arm of France’s Agence Française de Développement Group, pledged $10 million to the fund.
Fund Targets Africa’s Green Infrastructure Gap
Managed by Africa50, the AGIA Project Development Fund provides early-stage risk capital to help develop bankable green infrastructure projects across the continent.
The fund focuses on financing the project preparation stage, widely regarded as one of the biggest barriers to attracting private investment into infrastructure projects.
By supporting projects during their early development phase, the fund aims to create investment-ready opportunities capable of attracting larger pools of commercial financing.
Building Momentum Towards $400 Million Target
The latest commitments add to the fund’s growing investor base.
AGIA-PD achieved its first close of $118 million in August 2025, with support from the African Development Bank, Germany’s KfW Development Bank, the West African Development Bank (BOAD), the UK’s Foreign, Commonwealth and Development Office (FCDO), the Soros Economic Development Fund and the African Climate Foundation.
Africa50 is targeting a total fund size of $400 million, which it estimates could unlock up to $10 billion in bankable green infrastructure investment opportunities across Africa.
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Supporting Climate Finance and Sustainable Development
According to CDP, its investment is backed by the Italian Climate Fund, established by Italy’s Ministry of the Environment and Energy Security under the country’s Mattei Plan.
The institution said the investment aligns with its strategy of supporting sustainable development and climate transition initiatives across Africa.
Proparco said its participation reflects the AFD Group’s commitment to supporting both public and private financial institutions in advancing climate action and achieving the Sustainable Development Goals.
Africa50 Highlights Infrastructure’s Role
Speaking during the forum, Africa50 Group Chief Executive Officer Alain Ebobissé said infrastructure remains essential for connecting capital with investment opportunities capable of driving Africa’s economic transformation while supporting a more sustainable and resilient future.
Meanwhile, Stephen Mari, Head of Debt and Equity Funds at CDP International Cooperation, said the institution was pleased to become one of the fund’s founding limited partners.
“We are honoured to be among the founding Limited Partners 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,” he said.
Outlook
The latest $50 million in commitments strengthens the AGIA Project Development Fund’s efforts to bridge Africa’s green infrastructure financing gap by providing early-stage risk capital for project preparation, one of the biggest barriers to attracting private investment. As Africa50 continues working toward its $400 million fundraising target, the fund aims to build a stronger pipeline of bankable green infrastructure projects capable of unlocking up to $10 billion in investment opportunities across the continent. Backing from institutions such as CDP, Proparco, the African Development Bank, KfW Development Bank, the West African Development Bank (BOAD) and other development partners reflects growing international support for climate-focused infrastructure development in Africa. As more capital is mobilised, the fund is expected to play an increasingly important role in accelerating sustainable infrastructure, strengthening project bankability, mobilising private investment and supporting Africa’s long-term green transition.
FAQs
1. Who committed new funding to the AGIA Project Development Fund?
CDP committed $40 million, while Proparco pledged $10 million.
2. What does the AGIA Project Development Fund support?
The fund provides early-stage risk capital to develop bankable green infrastructure projects across Africa.
3. How much has the fund raised so far?
The fund achieved its first close of $118 million in August 2025 and is targeting $400 million.
4. What investment potential does Africa50 expect the fund to unlock?
Africa50 estimates the fund could generate up to $10 billion in bankable green infrastructure investment opportunities across Africa.
Sources: MSME Africa, Punch newspapers, The Guardian Nigeria News
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