The Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD), managed by Africa50, has reached its first close at $118 million, marking a major step in Africa’s drive to deliver bankable green infrastructure projects. Launched at COP27, the initiative is designed to close a persistent gap — the shortage of early-stage financing that often prevents climate-friendly projects from moving beyond the planning phase. With backing from leading partners such as the African Development Bank, KfW, BOAD, the UK’s Foreign, Commonwealth & Development Office, the Soros Economic Development Fund, and the African Climate Foundation, AGIA-PD signals strong global confidence in Africa’s green transition.
The fund combines grants, junior equity, and commercial equity in a blended model that reduces risk and encourages larger private-sector investments. The African Development Bank has already committed $40 million, underscoring its role as a catalyst for co-developing projects with both emerging and established developers.
Expected outcomes include a stronger pipeline of bankable projects, greater private-sector participation, and tangible community benefits through jobs, renewable energy access, and climate resilience. Ultimately, AGIA-PD aims to generate up to $10 billion in sustainable investment opportunities across Africa.
