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Proparco invests USD 10 million in Africa50's AGIA-PD fund to accelerate green infrastructure development across Africa

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Proparco has committed USD 10 million to the senior tranche of the Africa Green Infrastructure Alliance – Project Development Fund (AGIA-PD), managed by Africa50. The investment will support the development of a pipeline of bankable green infrastructure projects across Africa, helping accelerate the continent's energy transition while improving access to essential services such as electricity and water.

Addressing Africa's infrastructure financing gap

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, while 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.

To help address these challenges, AGIA-PD is targeting the most underserved stage of infrastructure financing: project development. By financing early-stage activities including project preparation, structuring and development, the fund aims to create a robust pipeline of investment-ready infrastructure projects capable of attracting long-term public and private capital.

Developing the next generation of green infrastructure projects

With a target size of USD 400 million, AGIA-PD will invest in infrastructure projects under development, focusing on green and climate-resilient infrastructure, including renewable energy, water infrastructure and other sustainable assets. The fund is designed to accelerate Africa's energy transition while expanding access to reliable electricity and water for local communities.
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, the fund benefits from an innovative blended finance structure.

This project 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.
 

By investing in AGIA-PD, Proparco is supporting a transformative initiative aiming to increase the number of green infrastructure projects in Africa. Through its manager, Africa50, AGIA-PD participates in the acceleration of the energy transition on the continent and generates significant development impacts for local communities.

Tibor Asboth

  • Head of Private Equity for Middle East and Africa, Proparco

We are very pleased to admit the Italian Climate Fund and Proparco, with whom we have worked from the early days of AGIA-PD, as part of the group of founding LPs. With this investment, the fund continues to mobilize large amounts of capital for project development, which remains the critical bottleneck for private investment in infrastructure in Africa.

Anas Charafi

  • Executive Director, AGIA Project Development Fund, Africa50

Catalyzing long-term infrastructure investment in Africa

By supporting the development of a stronger pipeline of bankable infrastructure projects, Proparco aims to unlock larger volumes of public and private investment for sustainable infrastructure across Africa. Strengthening the project development phase is essential to bringing high-impact infrastructure projects to financial close and ultimately reducing the continent's infrastructure gap while fostering sustainable, resilient and inclusive growth.