The African Development Bank (AfDB) and Africa50 have launched, on the sidelines of the EU-AU summit, an alliance to finance sustainable construction projects. The objective pursued is to raise 500 million dollars.

The two African institutions announced on February 17 their willingness to work with global partners to create an Alliance for Green Infrastructure in Africa. To address the lack of viable projects capable of generating stable long-term cash flows, the Alliance wants to raise up to $500 million to help develop them. And this from the pre-feasibility stage to commercial and financial closure. The resources invested will support green and sustainable infrastructure projects with the aim of supporting the continent's transition to net zero carbon. The European Investment Bank, the European Bank for Reconstruction and Development, the French Development Agency (AFD) and the Rockefeller Foundation have already expressed their wish to join the initiative.