The African Development Bank Group has approved a $100 million loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF) to strengthen sustainable infrastructure development across Africa. The financing aims to attract greater private sector investment and support projects in renewable energy, digital connectivity, transportation, and other critical sectors that foster inclusive growth and climate resilience.
EAAIF, a company within the Private Infrastructure Development Group (PIDG) and managed by investment firm Ninety One, will use the loan to continue mobilizing private capital for impactful projects that enhance access to essential services and promote sustainable economic transformation. This initiative forms part of the Fund’s broader debt-raising program, which seeks to secure $300 million in long-term financing by 2025 and invest over $850 million in infrastructure projects across Africa and Asia by 2027. It marks the fourth loan from the African Development Bank to the Fund.
According to Mike Salawou, Director of Infrastructure and Urban Development at the African Development Bank, the partnership with EAAIF will help unlock long-term financing for projects that create jobs, stimulate economies, and improve livelihoods across Africa. Sumit Kanodia, Director at Ninety One, emphasized that the support from the Bank will enable EAAIF to fund more renewable energy, digital, and transport projects that drive inclusive growth and climate resilience in the region.
The Emerging Africa and Asia Infrastructure Fund operates as a blended finance vehicle, leveraging both public and private debt capital to finance transformative infrastructure projects across Africa, the Levant, and South and Southeast Asia. With a committed loan portfolio of $1.6 billion spread across 25 countries and 10 infrastructure sectors, EAAIF plays a key role in fostering economic stability, business confidence, job creation, and poverty reduction.
The African Development Bank Group, comprising the African Development Bank (AfDB), the African Development Fund (ADF), and the Nigeria Trust Fund (NTF), is the continent’s leading development finance institution. Operating in 41 African countries with an external office in Japan, the Bank is dedicated to promoting economic growth and social progress across its 54 regional member states.
