The European Investment Bank (EIB) has partnered with Africa Finance Corporation (AFC) to support a $750 million Infrastructure Climate Resilient Fund (ICRF), aimed at strengthening Africa’s climate adaptation efforts and sustainable infrastructure.
The EIB confirmed a $52.48 million investment in the fund, which is managed by AFC Capital Partners (ACP), the asset management arm of AFC.
Other investors include the Green Climate Fund (GCF), which has committed $253 million. This is GCF’s largest equity investment in Africa. Other investors are the Nigeria Sovereign Investment Authority (NSIA) and two private African pension funds.
The fund is designed to embed climate resilience at every stage of infrastructure development, from planning and construction to operation.
It also integrates blended finance mechanisms to reduce investment risks and attract private sector participation.
Speaking at the Finance in Common Summit (FICS) in Cape Town, EIB Vice-President Ambroise Fayolle, said the bank remains committed to driving private sector investments in climate resilient infrastructure across vulnerable regions.
“This partnership with Africa Finance Corporation and the launch of ACP’s Infrastructure Climate Resilient Fund are key steps towards accelerating Africa’s green and digital transition,” Fayolle said. “Our investment is not just about initial capital but also about attracting more investors, mitigating risks, and promoting best practices in climate finance.”
On his part, AFC President & CEO Samaila Zubairu described the fund as a necessary intervention to close Africa’s climate adaptation financing gap.
“By focusing on climate resilient infrastructure, we are not only securing our economic future but also creating opportunities for sustainable growth and job creation across the continent,” Zubairu said.
Moreover, the fund aims to generate up to $3.7 billion in financing by leveraging contributions from international institutions, governments, and private investors.
It will prioritize investments in critical sectors, including clean energy, transport, logistics, digital infrastructure, and industrial development.
According to ACP, each project will undergo rigorous climate risk assessments, ensuring infrastructure assets are built to withstand evolving climate conditions.
The fund will also provide technical assistance to African nations in climate risk assessment and adaptation strategies.
One of the key projects under the ICRF is the Lobito Corridor, a trade and logistics route linking Angola, the Democratic Republic of Congo (DRC), and Zambia.
The corridor aims to enhance regional connectivity and improve the transportation of critical minerals and agricultural goods.
It is also expected to support industrialization efforts across the region.
