The European Investment Bank (EIB) has committed to join the Africa Finance Corporation (AFC) in financing a $750 million Infrastructure Climate Resilient Fund (ICRF). This landmark initiative will accelerate climate adaptation and sustainable infrastructure across Africa. The Fund will prioritize resilient, low-carbon solutions across transport and logistics, clean energy, digital infrastructure, and industrial development, ensuring sustainable growth.

As part of this commitment, the EIB has announced that it will invest $52.48 million in the fund, which is managed by AFC Capital Partners (ACP), the asset management arm of AFC. The ICRF has already secured a $253 million commitment from the Green Climate Fund (GCF), marking GCF’s largest-ever equity investment in Africa. Additional support has come from the Nigeria Sovereign Investment Authority (NSIA) and two private African pension funds, demonstrating strong institutional backing both within the continent and internationally.

The Infrastructure Climate Resilient Fund aims to accelerate climate adaptation in Africa by embedding resilience measures at every stage of infrastructure development—from design and construction to operation. To enhance protection against climate-related risks and losses, the Fund uses blended finance to de-risk private investment and integrates innovative tools such as climate risk parametric insurance. In addition, it will offer technical assistance to support countries in conducting climate risk assessments and implementing adaptation strategies, aligning with the European Union’s Global Gateway initiative and the UN Sustainable Development Goals.

The agreement demonstrates the close collaboration between the EIB, AFC, and other strategic partners. EIB Vice-President Ambroise Fayolle said: "The EIB is committed to supporting private sector investment in climate-resilient infrastructure, especially in regions most vulnerable to climate change. This partnership with the Africa Finance Corporation and the launch of ACP’s Infrastructure Climate Resilient Fund are a significant step towards accelerating Africa’s green and digital transition and ensuring a sustainable future for all. The EIB's investment is not just about the initial capital injection; it is also intended to have a multiplier effect by attracting more investors, reducing risk, showcasing successful projects, and promoting best practices in climate finance."

The ICRF aims to demonstrate that Africa can pursue a climate-resilient and sustainable development path by addressing market failures, mitigating environmental risks, strengthening logistics, trade, and industrialization, and accelerating the continent’s digital and energy transition.

"This Fund is crucial for bridging the funding gap for climate adaptation in Africa,” said Samaila Zubairu, AFC’s President & CEO. “By focusing on climate-resilient infrastructure, we are not only securing our economic future but also creating opportunities for sustainable growth, and supporting job creation across the continent. We are glad to partner with the EIB and other investors who are committed to increasing the impact of climate finance.”

B2EU monitors major funding pledges from key finance institutions across the EMEA region. Keep an eye on our website and LinkedIn page to stay up to date with the latest news.