The African Development Bank (AfDB) has approved $100 million loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF) to boost sustainable infrastructure development across Africa.The new financing package, according to a statement published on the bank’s website on Friday, is designed to unlock private capital and support transformative projects in renewable energy, transport, digital connectivity, and other critical sectors across the African continent.The facility, approved by the AfDB Board of Directors, forms part of the Bank’s broader strategy to bridge Africa’s infrastructure financing gap and promote resilient,inclusive growth.
The loan is also part of EAAIF’s debt-raising programme, under which the Fund aims to secure $300 million in long-term capital in 2025 and deploy more than $850 million across Africa and Asia by 2027.The statement, however, did not specify the countries where the projects will be implemented.What the officials said: In a statement, Mike Salawou, Director of the Infrastructure and Urban Development Department at the AfDB, underscored the strategic importance of the partnership.He said, “Partnering with the Emerging Africa and Asia Infrastructure Fund allows us to unlock long-term financing for critical projects that power economies, create jobs, and improve lives across Africa. It also helps close the continent’s infrastructure financing gap by attracting private capital to high-impact projects in emerging and frontier markets.
Echoing this commitment, Sumit Kanodia, Director at Ninety One, highlighted the significance of the new facility in sustaining EAAIF’s development impact.Kanodia said, “We are delighted to deepen our partnership with the African Development Bank. This loan will enable us to finance more renewable energy, digital, and transport projects that drive inclusive growth, create jobs, and build climate resilience in the region.” EAAIF, a company under the Private Infrastructure Development Group (PIDG) and managed by investment firm Ninety One, has long been a key platform for mobilising private investment in frontier markets.According to the statement, the latest contribution is AfDB’s fourth loan to the Fund.In September,AfDB approved a $25 million equity investment in The Currency Exchange Fund (TCX) to strengthen access to local currency financing across Africa.Since its inception in 2007, TCX has hedged more than $17 billion in notional amounts, including over $4 billion across 31 African countries.Also, in August, AfDB announced a $5.5 billion financing framework to accelerate sustainable growth and infrastructure development across Africa, leveraging the Japan International Cooperation Agency’s (JICA) private sector investment finance as a catalyst
