The African Development Bank has approved a $100 million loan to the Emerging Africa and Asia Infrastructure Fund to accelerate sustainable infrastructure development across the continent.
The financing package, announced on Friday, is intended to attract private investment into renewable power, transport networks, digital connectivity and other essential sectors that underpin economic growth. It forms part of the Bank’s wider plan to narrow Africa’s persistent infrastructure funding shortfall and support more inclusive development.
The loan also contributes to the Fund’s broader capital-raising programme. EAAIF is seeking $300 million in long-term financing this year, with a mandate to deploy more than $850 million across Africa and Asia by 2027. The specific locations where the projects will take place are yet to be disclosed.
Mike Salawou, who heads the Infrastructure and Urban Development Department at the AfDB, said the partnership helps channel private funds into projects that generate jobs, expand economic activity and improve living standards. He stressed that bridging the continent’s infrastructure deficit requires greater involvement from commercial capital.
Sumit Kanodia, a director at investment firm Ninety One, which manages the Fund, described the loan as crucial for sustaining development impact. He noted that the financing will support renewable energy, digital services and transport improvements that reduce poverty exposure and strengthen climate resilience.
EAAIF operates under the Private Infrastructure Development Group and has become a key vehicle for mobilising investment into frontier economies. This latest loan marks the AfDB’s fourth contribution to the platform.
The Bank has been stepping up support for market-shaping financial interventions. In September, it invested $25 million in The Currency Exchange Fund to improve access to local-currency financing in Africa, and in August rolled out a $5.5 billion framework designed to accelerate sustainable growth in partnership with Japan’s international cooperation agency.
