The African Union, the African Development Bank Group and Africa50 in partnership with several global partners have launched the Alliance for Green Infrastructure in Africa (AGIA), an initiative to help scale and accelerate financing for green infrastructure projects in Africa.
The collaborating global partners working with the African Union, African Development Bank and Africa50 are the African Union Development Agency, the European Investment Bank, the European Bank for Reconstruction and Development, the French Development Agency, The Rockefeller Foundation, the US Trade and Development Agency, the Global Center on Adaptation, the Private Infrastructure Development Group, and the African Sovereign Investors Forum.
The launch ceremony took place on Wednesday on the sidelines of the ongoing 27th annual global climate summit (COP27) in Sharm El-Sheikh, Egypt.
The Alliance’s mission is to raise significant capital to accelerate Africa’s just and equitable transition to Net Zero emissions. It has two strategic objectives. The first is to generate a robust pipeline of transformational bankable projects. The second is to catalyze financing at scale and speed for Africa’s infrastructure.