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Italy’s Cassa Depositi e Prestiti (CDP) and France’s Proparco, the private sector financing arm of the Agence française de développement Group, have committed a combined $50 million to the Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD).
The signing took place at the 2026 Infra for Africa Forum, hosted by the Government of Tanzania at the Julius Nyerere International Convention Centre.
The forum, themed “A Decade of Impact: From Vision to Delivery,” brought together heads of state, private investors, developers, and experts to advance infrastructure financing on the continent.
Keynote addresses were delivered by Tanzanian President Samia Suluhu Hassan and African Development Bank President Sidi Ould Tah, who also chairs Africa50.
CDP (represented by Luca Quadrini, Head of Financial Institutions, Corporates and Funds) will invest $40 million through the Italian Climate Fund, and Proparco (represented by Jean Guyonnet-Duperat, Regional Director for East Africa) will contribute $10 million.
The Italian Climate Fund, created by the Ministry of the Environment and Energy Security and managed by CDP, helps invest in sustainable development and climate change under the Mattei Plan.
Stephen Mari, Head of Debt and Equity Funds at CDP International Cooperation, said, “We are honoured to be among the founding Limited Partners (LPs) 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. We look forward to deepening this collaboration as these resources are deployed in the years ahead.”
Proparco supports AFD Group’s mission to assist Africa’s financial institutions in promoting climate action and achieving the goals of Agenda 2030 and SDG7.
“By investing in AGIA-PD, Proparco is supporting a transformative initiative aiming to increase the number of green infrastructure projects in Africa. Through its manager, Africa50, AGIA-PD participates in the acceleration of the energy transition on the continent and generates significant development impacts for local communities,” said Tibor Asboth, head of private equity for Africa and the Middle East at Proparco.
The agreements were signed on stage at the Infra for Africa Forum in Dar es Salaam on 5 August 2026.
Managed by Africa50, AGIA-PD is described as Africa’s largest climate-aligned development fund.
It invests early-stage risk capital to develop bankable green infrastructure projects across the continent.
The fund held its first close at $118 million in August 2025, attracting the African Development Bank, Germany’s KfW, the West African Development Bank, the UK’s FCDO, the Soros Economic Development Fund, and the African Climate Foundation.
The fund is targeting $400 million in total and aims to generate up to $10 billion in bankable green infrastructure investment opportunities.
The announcement comes a few days after Africa50 Infrastructure Acceleration Fund securing $20M from British International Investment (BII), the UK’s development finance institution
Anas Charafi, Executive Director, AGIA Project Development Fund, Africa50, said, ’We are very pleased to admit the Italian Climate Fund and Proparco, with whom we have worked from the early days of AGIA-PD, as part of the group of founding LPs. With this investment, the fund continues to mobilize large amounts of capital for project development, which remains the critical bottleneck for private investment in infrastructure in Africa.”
Africa50 is a specialist investor in African infrastructure, developing, de-risking and delivering projects to unlock economic growth across the continent.
It combines a proprietary continental-scale pipeline, deep government relationships and structuring solutions to develop investment-ready projects and scalable platforms.
Africa50 currently has 38 shareholders comprising 33 African countries, the African Development Bank, the Central Bank of West African States, Bank Al-Maghrib, the Public Investment Corporation, and African Reinsurance Corporation.
