AGIA‑PD is the second of three financing pillars under the broader Alliance for Green Infrastructure in Africa (AGIA) initiative.

The first pillar focuses on project preparation and includes a $100 million grant facility.

The second pillar, AGIA‑PD, is a blended‑finance fund that combines grants and concessional capital to support early‑stage development of green infrastructure projects.

The third pillar aims to mobilize up to $10 billion in long‑term financing for completed projects.  

Who are the contributors?
The African Development Bank (AfDB) anchored the fund’s first close by committing $40 million, composed of:

• $20 million in grants

• $10 million in junior equity

• $10 million in commercial equity via its Sustainable Energy Fund for Africa  

Other notable contributors include:

• KfW, the German development bank, is pledging €26 million 

• The West African Development Bank (BOAD)

• The U.K. Foreign, Commonwealth & Development Office (FCDO)

• The Soros Economic Development Fund and the African Climate Foundation (ACF) 

• Organizations such as the Three Cairns Group 

These partners form a diverse group of institutional investors, development agencies, and philanthropies, united by the shared aim of mobilising early-stage capital for climate-resilient infrastructure.

Why it matters

Africa50, the fund manager, and its partners aim to address a critical gap in Africa’s infrastructure finance: the lack of bankable early‑stage projects. 

AGIA‑PD will invest in project preparation to boost private sector engagement and encourage the development of viable green infrastructure, from renewable energy to sustainable transport and ICT.  

Solomon Quaynor, AfDB’s Vice President for Private Sector, Infrastructure and Industrialisation, highlighted the strategic importance of the bank’s investment:

“With this $40 million—made up of grants, junior equity, and commercial equity—we are pioneering an approach to unlock Africa’s green infrastructure potential. This isn’t just funding—it’s a commitment to share early‑stage risk and co‑develop a reliable project pipeline,” he said.

AGIA‑PD forms a critical part of a larger AGIA initiative that launched at COP27 and aims to catalyze $10 billion in private investment while securing up to $500 million in early‑stage blended finance for preparation and development. 

Africa50 CEO Alain Ebobissé noted that AGIA is moving from concept to execution:

“Since unveiling AGIA at COP27, this first close is a clear sign of progress. We thank our founding partners. By providing early‑stage development capital, AGIA will help transform ideas into bankable green projects, build local capacity, and support a more resilient, prosperous Africa.”