Italy, France Pledge $50m to Boost Africa’s Green Infrastructure
Italy and France have committed a combined $50 million to support sustainable infrastructure development across Africa, joining the United Kingdom and Germany in a growing international effort to finance the continent’s green transition.
The funding was announced on Wednesday, August 5, at the 2026 Infra for Africa Forum in Tanzania. Italy’s Cassa Depositi e Prestiti (CDP) committed $40 million, while France’s development finance institution, Proparco, pledged an additional $10 million to the Alliance for Green Infrastructure in Africa – Project Development Fund (AGIA-PD).
The latest commitments build on the $118 million raised by the fund in 2025 from international partners, including the UK and Germany.
Managed by Africa50, the AGIA-PD is targeting a total capitalisation of $400 million. The fund is designed to provide early-stage financing for infrastructure projects across Africa, helping them reach a stage where they can attract larger private-sector investments.
Africa50 estimates that the $400 million fund could help unlock as much as $10 billion in green investment opportunities across the continent.
Stephen Mari of CDP International Cooperation said the institution was pleased to join the initiative as a founding partner, noting that the fund aligns with Italy’s climate action priorities and its broader partnership with Africa.
Tackling Africa’s infrastructure funding gap
One of the major challenges facing infrastructure development in Africa is the shortage of funding at the early stages of project development.
Executive Director of AGIA-PD, Anas Charafi, said project preparation remains one of the biggest obstacles to attracting private investment into African infrastructure.
The fund aims to address this challenge by providing the capital needed to develop projects and make them financially viable, particularly in sectors such as renewable energy, transportation and climate-resilient infrastructure.
With better project preparation and access to early-stage funding, the initiative hopes to accelerate the development of sustainable energy and transport systems across the continent
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Alain Ebobissé, Chief Executive Officer of Africa50 Group, said infrastructure remains essential to connecting capital with investment opportunities capable of driving Africa’s economic transformation and building a more sustainable and resilient future.
Proparco’s Tibor Asboth also said the new funding would help expand the pipeline of green infrastructure projects while supporting Africa’s energy transition and wider development goals.
The commitments from Italy and France come as governments, development institutions and private investors increasingly focus on green infrastructure as a driver of long-term economic growth.
The 2026 Infra for Africa Forum brought together government officials, policymakers and development finance institutions to discuss how financing commitments can be translated into actual infrastructure projects capable of delivering economic and environmental benefits across Africa.
