The African Development Bank Group has granted a $100m loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF), a Private Infrastructure Development Group (PIDG) company, managed by the investment firm Ninety One.

Mike Salawou, Director of the Infrastructure and Urban Development Department at the African Development Bank, 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.”

The financing will help the Fund attract private investment and support projects in renewable energy, digital connectivity, transport and other key sectors that promote inclusive growth and climate resilience.

The Bank’s loan will enable the Fund to continue mobilising private capital for impactful projects that expand access to essential services and drive sustainable economic transformation across Africa.

The operation forms part of EAAIF’s broader debt-raising programme, which aims to secure $300m of long-term financing in 2025 and invest more than $850m  in infrastructure across Africa and Asia by 2027. 

It is the fourth such loan that the African Development Bank has provided to the Fund.

Sumit Kanodia, Director at Ninety One, the Fund’s manager, added: “We are delighted to deepen our partnership with the African Development Bank. 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.”