Proparco commits USD 10 million to Africa50's AGIA-PD fund for green infrastructure

Proparco has committed USD 10 million to the senior tranche of the Africa Green Infrastructure Alliance – Project Development Fund (AGIA-PD), managed by Africa50, according to a press release published on September 11, 2026. The investment will support the development of a pipeline of bankable green infrastructure projects across Africa. It aims to accelerate the continent’s energy transition while improving access to essential services such as electricity and water. The fund targets the most underserved stage of infrastructure financing: project development. This financing seeks to build a robust pipeline capable of attracting long-term public and private capital.

Africa faces one of the world’s largest infrastructure financing gaps, with annual investment needs estimated at USD 130–170 billion. This deficit continues to constrain economic growth and sustainable development across the continent. Demographic trends and rapid urbanization further increase demand for resilient infrastructure. Today, 43% of Africans still lack access to electricity, while 30% do not have access to safely managed water services. AGIA-PD is designed to help address these persistent challenges.

With a target size of USD 400 million, AGIA-PD will invest in infrastructure projects under development, focusing on green and climate-resilient assets. Its scope includes renewable energy, water infrastructure and other sustainable investments. The fund is managed by Africa50, a pan-African infrastructure investment institution backed by 33 African countries, the African Development Bank (AfDB) and regional institutions including the BCEAO. It benefits from an innovative blended finance structure. The initiative is fully aligned with Proparco’s 2023–2027 Strategy, particularly Target 1: “Investing in a sustainable and resilient economy” and Target 2: “Protect the planet.”

Beyond its climate contribution, the investment is expected to generate significant development impact, including the creation and maintenance of approximately 5,430 jobs. The fund will also invest in several fragile and underserved markets, where sustainable infrastructure is critical to fostering inclusive economic growth. The operation contributes to Sustainable Development Goal (SDG) 8 – Decent Work and Economic Growth and SDG 13 – Climate Action. Tibor Asboth, Head of Private Equity for Middle East and Africa at Proparco, stated: “By investing in AGIA-PD, Proparco is supporting a transformative initiative aiming to increase the number of green infrastructure projects in Africa.” He added that the fund participates in accelerating the energy transition and generates significant development impacts for local communities.

Anas Charafi, Executive Director of the AGIA Project Development Fund at Africa50, welcomed Proparco and the Italian Climate Fund as part of the group of founding LPs. He noted that the fund continues to mobilize large amounts of capital for project development, which remains the critical bottleneck for private investment in infrastructure in Africa. By supporting a stronger pipeline of bankable projects, Proparco aims to unlock larger volumes of public and private investment for sustainable infrastructure across the continent. Strengthening the project development phase is essential to bringing high-impact infrastructure projects to financial close. The initiative ultimately seeks to reduce Africa’s infrastructure gap while fostering sustainable, resilient and inclusive growth.