The African Development Bank (AfDB) has approved a $100 million loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF) to scale renewable energy, transport, and digital infrastructure projects across multiple African countries.
The approval places project financing at the centre of AfDB’s mandate to close the continent’s infrastructure deficit and strengthen long-term economic resilience.
The Bank described the loan as part of its broader plan to mobilise private capital for large-scale development. According to the statement released on Friday, the facility aligns with AfDB’s ongoing effort to direct financing into sectors essential for industrial growth, energy security, and improved regional mobility.
The fund allocation forms a key component of EAAIF’s debt-raising programme, through which the organisation aims to secure $300 million in 2025 and deploy more than $850 million across Africa and Asia by 2027. Although the statement did not list specific beneficiary countries, the Bank noted that the projects would focus on high-impact infrastructure in priority regions.
A senior Bank official, Mike Salawou, Director of the Infrastructure and Urban Development Department at AfDB, highlighted the value of the partnership. He said, “Partnering with the Emerging Africa and Asia Infrastructure Fund allows us to unlock long-term financing for critical projects that power economies, create jobs, and improve lives across Africa. It also helps close the continent’s infrastructure financing gap by attracting private capital to high-impact projects in emerging and frontier markets.”
His position was echoed by Sumit Kanodia, Director at Ninety One, the investment firm managing EAAIF under the Private Infrastructure Development Group (PIDG). Kanodia said, “This loan will enable us to finance more renewable energy, digital, and transport projects that drive inclusive growth, create jobs, and build climate resilience in the region.” He added that the renewed support reinforces the long-standing relationship between EAAIF and AfDB.
The Bank confirmed that this financing is its fourth loan to EAAIF, extending a collaborative effort focused on mobilising private investment into frontier markets. AfDB said the partnership remains central to its commitment to infrastructure expansion, industrial diversification, and sustainable development.
AfDB has taken similar steps in recent months. In September, the Bank approved a $25 million equity investment in The Currency Exchange Fund (TCX) to improve access to local-currency financing across African economies. TCX has hedged more than $17 billion in notional value since 2007, including over $4 billion across 31 African countries.
In August, AfDB also announced a $5.5 billion financing framework, supported by the Japan International Cooperation Agency (JICA), to accelerate infrastructure development and boost private-sector financing across Africa.
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