African and global institutions, alongside various governments, have formalised their commitment by signing a letter of intent at COP28 in Abu Dhabi, vowing to contribute over US $ 175 million to the Alliance for Green Infrastructure in Africa (AGIA). This landmark initial commitment aims to bolster funding for the expansion of climate-aligned infrastructure projects across the African continent. Furthermore, this pledge will advance AGIA towards its inaugural close of US $ 500 million for early project preparation and the development of blended capital.
Notable entities endorsing this letter of intent encompass the African Development Bank, Africa50, France, Germany, Japan, the Arab Bank for Economic Development in Africa (BADEA), Banque Ouest-Africaine de Développement (BOAD), Proparco, and the Three Cairns Group.
For more information visit: COP28: Global and African partners pledge $175m to the Alliance for Green Infrastructure in Africa (AGIA) | African Development Bank Group – Making a Difference (afdb.org)
