The African Development Bank (AfDB) has approved $100 million loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF) to boost sustainable infrastructure development across Africa.
The new financing package, according to a statement published on the bank’s website on Friday, is designed to unlock private capital and support transformative projects in renewable energy, transport, digital connectivity, and other critical sectors across the African continent.
The facility, approved by the AfDB Board of Directors, forms part of the Bank’s broader strategy to bridge Africa’s infrastructure financing gap and promote resilient, inclusive growth.
The loan is also part of EAAIF’s debt-raising programme, under which the Fund aims to secure $300 million in long-term capital in 2025 and deploy more than $850 million across Africa and Asia by 2027.
The statement, however, did not specify the countries where the projects will be implemented.
In September, Nairametrics reported that AfDB approved a $25 million equity investment in The Currency Exchange Fund (TCX) to strengthen access to local currency financing across Africa.
Also, in August, AfDB announced a $5.5 billion financing framework to accelerate sustainable growth and infrastructure development across Africa, leveraging the Japan International Cooperation Agency’s (JICA) private sector investment finance as a catalyst.
Source: Nairametrics