EIB and AFC Partner on $750 Million Climate Resilient Infrastructure Fund for Africa

The European Investment Bank (EIB) has announced a $52.48 million investment in the $750 million Infrastructure Climate Resilient Fund (ICRF), an initiative launched by Africa Finance Corporation (AFC) to accelerate climate adaptation and sustainable infrastructure development across Africa.

The ICRF, managed by AFC Capital Partners (ACP), aims to address Africa’s vulnerability to climate change by embedding resilience strategies in infrastructure projects at every stage—from design to operation.

This milestone investment was formally signed at the Finance in Common Summit (FICS) in Cape Town, South Africa, reinforcing commitments to Africa’s green and digital transition.

Key Highlights of the ICRF Investment

Total Fund Size: $750 million
EIB Investment: $52.48 million
Largest Equity Commitment in Africa: $253 million from the Green Climate Fund (GCF)
Additional Investors: Nigeria Sovereign Investment Authority and two private African pension funds
Focus Areas: Climate-resilient infrastructure, clean energy, transportation, logistics, and digital infrastructure
Project Pipeline: 10 to 12 projects, including the Lobito Corridor (linking Angola, DRC, and Zambia)

How the ICRF Will Drive Climate Adaptation in Africa

The ICRF seeks to de-risk private investment through blended finance, integrating innovative financial tools like climate risk parametric insurance to mitigate losses from climate-related events.

1. Investment in Climate-Resilient Infrastructure

The fund will prioritize low-carbon solutions in key sectors such as:

Transport & Logistics – Improving trade and mobility efficiency
Clean Energy – Expanding renewable energy capacity
Digital Infrastructure – Strengthening connectivity and technology resilience
Industrial Development – Supporting low-emission manufacturing

2. Capacity Building and Technical Assistance

The fund will provide technical support to African governments in climate risk assessment, ensuring that infrastructure projects align with global sustainability goals.

3. Private Sector Engagement & De-risking Mechanisms

By leveraging blended finance, the fund seeks to attract private investors while reducing financial risks, ensuring long-term infrastructure resilience and sustainability.

EIB and AFC’s Vision for a Sustainable Africa

Speaking at the signing ceremony, EIB Vice-President Ambroise Fayolle emphasized the importance of climate-focused investments:

“This partnership with AFC and the launch of ACP’s Infrastructure Climate Resilient Fund are significant steps toward Africa’s green and digital transition. Our investment will not only provide initial capital but also attract further investors, reduce risks, and showcase successful climate finance models.”

Similarly, AFC President/CEO, Samaila Zubairu, highlighted the economic impact of the fund:

“By focusing on climate-resilient infrastructure, we are securing Africa’s economic future while fostering sustainable growth and job creation.”

Strategic Alignment with Global and African Development Goals

The EIB’s investment in the ICRF aligns with:

✔ EU’s Global Gateway Initiative – Strengthening Europe-Africa partnerships in climate and infrastructure.
✔ African Union’s Agenda 2063 – Promoting sustainable economic development across Africa.
✔ UN Sustainable Development Goals (SDGs) – Supporting climate adaptation, clean energy, and resilient infrastructure.
✔ Paris Climate Agreement – Encouraging African nations to meet their Nationally Determined Contributions (NDCs) for carbon reduction.

Conclusion: A Major Leap for Climate Finance in Africa

The $750 million Infrastructure Climate Resilient Fund (ICRF) represents a transformative investment in Africa’s future, fostering sustainability, economic growth, and climate adaptation.

With EIB, AFC, and GCF leading the way, the fund is expected to catalyze further investments, ensuring Africa’s infrastructure remains resilient amid climate challenges.

As projects like the Lobito Corridor move forward, Africa is poised for a new era of sustainable and inclusive development.