In a groundbreaking move at the 2023 UN Climate Change Conference (COP28) in Dubai, global and African partners committed an impressive $175 million to the Alliance for Green Infrastructure in Africa (AGIA).
This collective pledge, featuring contributions from African and global institutions, governments including Germany, France, and Japan, and philanthropies, marks a significant milestone in climate finance.
Dedicated to catalyzing change, the Alliance for Green Infrastructure in Africa (AGIA) envisions unlocking a substantial $10 billion in private capital for pivotal green infrastructure projects.
Launched at COP27 in November 2022, this partnership, comprising key entities like the African Union Commission, African Development Bank, and Africa50, is steering Africa’s just and equitable transition to Net-Zero.
AGIA’s ambitious goals include raising $500 million in early-stage blended capital, a testament to its commitment to transformative and sustainable development.
In a historic memorandum of intent, influential signatories have pledged support for the Alliance for Green Infrastructure in Africa (AGIA), propelling sustainable development on the continent.
Notable signatories include the African Development Bank, Africa50, and countries of global prominence such as Germany, France, and Japan. Philanthropic organizations have also joined this transformative initiative.
The signing ceremony was graced by the esteemed presence of African leaders, adding weight to AGIA’s mission. Presidents Azali Assoumani of the Union of the Comoros and Andry Rajoelina of Madagascar, along with the Chairperson of the African Union Commission, Moussa Faki Mahamat, lent their support, emphasizing the collective commitment to fostering green infrastructure and resilient development across Africa.
Germany, France, and Japan jointly pledged substantial contributions, affirming their dedicated support for the Alliance for Green Infrastructure in Africa (AGIA). Germany commited up to €26 million, underscoring its commitment to unlocking private capital for African green projects.
Simultaneously, Japan pledged a commendable $10 million, showcasing its dedication to sustainable development. France, a climate action leader, contributed €20 million, reinforcing its commitment to AGIA’s mission.
The Alliance for Green Infrastructure in Africa (AGIA) takes center stage in steering Africa towards Net-Zero emissions, strategically concentrating on early-stage project preparation and development blended capital.
AGIA collectively aims to unlock a monumental $10 billion in private capital, underlining its commitment to catalyze sustainable development across the continent. With a primary focus on early-stage project preparation, AGIA champions blended financing strategies, ensuring a solid foundation for impactful green initiatives.
Simultaneously, the alliance ambitiously endeavors to galvanize global action, uniting international support for Africa’s accelerated transition to Net-Zero emissions.
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The pledged funds from Germany, France, and Japan will play a pivotal role, steering AGIA towards achieving the first close of $500 million for critical climate-aligned infrastructure projects, laying the groundwork for a transformative $10 billion pipeline.
The African Development Bank Group (AfDB) reaffirms its dedication to the Alliance for Green Infrastructure in Africa (AGIA) with a planned contribution of up to $40 million, pending board approval. This resolute commitment underscores AfDB’s pivotal role in fostering sustainable development across Africa.
Emphasizing the crucial role of private sector financing at scale, AfDB aligns its commitment with addressing climate change and sustainably closing Africa’s infrastructure gap.
In a powerful collaboration, institutions including BADEA, Africa50, BOAD, Proparco, and the Three Cairns Foundation pledge support for the Alliance for Green Infrastructure in Africa (AGIA).
Their combined contributions, spanning economic development, financial support, and environmental initiatives, fortify AGIA’s vision for catalyzing Africa’s economic growth and advancing transformative green infrastructure projects.
