Dar es Salaam. The European Investment Bank (EIB) shared its commitment Thursday to joining Africa Finance Corporation (AFC) in financing a US$750 million Infrastructure Climate Resilient Fund (ICRF), an initiative expected to accelerate climate adaptation and sustainable infrastructure across Africa.
As part of this commitment, the EIB confirmed Thursday it will invest US$52.48 million in the Fund, which is managed by AFC Capital Partners (ACP), the asset management arm of AFC. A statement released Thursday said that ACP has already secured a US$253 million commitment from the Green Climate Fund (GCF), marking GCF’s largest-ever equity investment in Africa.
In addition, the Nigeria Sovereign Investment Authority (NSIA) and two private African pension funds have also committed to the Fund, demonstrating robust institutional backing on the continent and internationally.
The Infrastructure Climate Resilient Fund aims to accelerate climate adaptation in Africa by embedding resilience measures at every stage of infrastructure development—from design and construction to operation.
Using blended finance to de-risk private investment, the Fund also integrates innovative tools such as climate risk parametric insurance to enhance protection against climate-related risks and losses.
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In addition, the Fund will provide technical assistance to enhance the capacity of countries seeking climate risk assessment and adaptation, aligning with the European Union’s Global Gateway initiative and the UN Sustainable Development Goals.
The EIB formally signed the agreement at the Finance in Common Summit (FICS) in Cape Town today, demonstrating the close collaboration between the EIB, AFC, and other strategic partners.
“The EIB is committed to supporting private sector investment in climate-resilient infrastructure, especially in regions most vulnerable to climate change,” a statement quoted EIB Vice-President Ambroise Fayolle at the ceremony.
“This partnership with the Africa Finance Corporation and the launch of ACP’s Infrastructure Climate Resilient Fund are a significant step towards accelerating Africa’s green and digital transition and ensuring a sustainable future for all. The EIB’s investment is not just about the initial capital injection; it is also intended to have a multiplier effect by attracting more investors, reducing risk, showcasing successful projects, and promoting best practices in climate finance.”
ACP’s fund aims to demonstrate that Africa can pursue a climate-resilient and sustainable development path by addressing market failures, mitigating environmental risks, strengthening logistics, trade, and industrialisation, and accelerating the continent’s digital and energy transition.
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“This Fund is crucial for bridging the funding gap for climate adaptation in Africa,” Samaila Zubairu, AFC’s President & CEO, said at the launch event Thursday.
“By focusing on climate-resilient infrastructure, we are not only securing our economic future but also creating opportunities for sustainable growth, and supporting job creation across the continent,” he added. “We are glad to partner with the EIB and other investors who are committed to increasing the impact of climate finance.”
The ICRF focuses on Africa, the world’s most climate-vulnerable continent, by investing in infrastructure that can withstand the impacts of climate change while reducing carbon emissions. The Fund prioritises resilient, low-carbon solutions across transport and logistics, clean energy, digital infrastructure, and industrial development, ensuring sustainable growth.
