Africa50 has secured $50 million in commitments from two international development finance institutions to strengthen early-stage financing for climate-resilient infrastructure projects across Africa.

The funding was announced at the 2026 Infra for Africa Forum a1nd Africa50 General Shareholders Meeting in Dar es Salaam, where Italy’s development finance institution, Cassa Depositi e Prestiti (CDP), committed $40 million, while Proparco, the private sector financing arm of the Agence française de développement (AFD) Group, pledged $10 million to the Alliance for Green Infrastructure in Africa – Project Development Fund (AGIA-PD).

The investment is expected to deepen access to project development capital, helping to transform promising green infrastructure concepts into bankable investments capable of attracting large-scale private sector financing.

The announcement came as political leaders, investors, financiers and infrastructure developers gathered at the Julius Nyerere International Convention Centre for a two-day forum that focused on mobilising investment to drive Africa’s economic transformation.

Speaking at the opening of the forum, Africa50 Group Chief Executive Officer, Alain Ebobissé, said infrastructure remains central to connecting capital with markets and creating the conditions for sustainable economic growth across the continent.

The event also featured keynote addresses by Tanzanian President Samia Suluhu Hassan and African Development Bank Group President and Africa50 Chairman, Dr Sidi Ould Tah, who highlighted infrastructure investment as a catalyst for industrialisation and economic resilience.

The latest commitments will be channelled into AGIA-PD, a climate-focused project development fund managed by Africa50 that provides early-stage risk capital for infrastructure projects aimed at accelerating Africa’s green transition.

The fund supports the development of bankable projects by financing the often-overlooked project preparation phase, widely regarded as one of the biggest obstacles to attracting private investment into infrastructure.

Backed by the Italian Climate Fund, which was established by Italy’s Ministry of the Environment and Energy Security under the country’s Mattei Plan, CDP said the investment aligns with its strategy of supporting sustainable development and climate transition initiatives in Africa.

Proparco said its participation reflects the AFD Group’s commitment to supporting both public and private financial institutions in advancing climate action and achieving the Sustainable Development Goals.

AGIA-PD achieved its first close at $118 million in August 2025, attracting support from major development partners including the African Development Bank, Germany’s KfW Development Bank, the West African Development Bank (BOAD), the UK’s Foreign, Commonwealth and Development Office (FCDO), the Soros Economic Development Fund and the African Climate Foundation.

With a fundraising target of $400 million, the fund aims to unlock as much as $10 billion in bankable green infrastructure investment opportunities across Africa.

Stephen Mari, Head of Debt and Equity Funds at CDP International Cooperation, said the institution was proud to join the fund as one of its founding limited partners.

“We are honoured to be among the founding Limited Partners of the AGIA-PD Fund. Its mission to advance infrastructure development across Africa resonates strongly with the priorities of the Italian Climate Fund and the ambitions of the Mattei Plan,” he said.