AfDB Strengthens Infrastructure Financing With $100m Facility
The African Development Bank Group (AfDB) has approved a $100m loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF) in a strategic move to scale up sustainable infrastructure development and mobilise private investment across Africa.
The financing, endorsed by the Bank’s Board of Directors, is expected to support high-impact projects in renewable energy, digital connectivity, transport, and other key sectors critical to inclusive growth and climate resilience.
The EAAIF, a company under the Private Infrastructure Development Group (PIDG) and managed by investment firm Ninety One, has been instrumental in channelling long-term capital into infrastructure initiatives across emerging and frontier markets.
The AfDB’s latest facility, its fourth loan to the Fund, will reinforce ongoing efforts to bridge Africa’s infrastructure financing gap by reducing project risks and crowding in additional private sector participation.
According to Mike Salawou, Director of the Infrastructure and Urban Development Department at the AfDB, the partnership with EAAIF enables the bank to unlock financing for transformative projects that power economies and improve livelihoods across the continent.
He noted that the collaboration plays a vital role in expanding access to essential services while supporting sustainable economic transformation.
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Sumit Kanodia, Director at Ninety One, welcomed the renewed support, describing the facility as a boost for EAAIF’s pipeline of renewable energy, digital, and transport projects.
He said the funding will help advance initiatives that promote job creation, climate resilience, and inclusive development across Africa.
The operation forms part of EAAIF’s broader capital-raising programme, which targets securing $300m in long-term financing in 2025 and investing more than $850m in infrastructure across Africa and Asia by 2027.
The AfDB’s continued commitment is expected to enhance the Fund’s capacity to mobilise meaningful volumes of private capital for projects that strengthen regional economies and accelerate sustainable development outcomes.
