The European Investment Bank (EIB) has strengthened its commitment to climate adaptation in Africa by investing $52.48 million in the Infrastructure Climate Resilient Fund (ICRF), a $750 million initiative managed by AFC Capital Partners (ACP), the asset management arm of Africa Finance Corporation (AFC).

This investment is part of a broader effort to attract institutional and private capital to Africa’s climate-resilient infrastructure, leveraging blended finance to mitigate risk and scale sustainable development. 

The Fund has already secured a record-breaking $253 million commitment from the Green Climate Fund (GCF), alongside contributions from the Nigeria Sovereign Investment Authority (NSIA) and private African pension funds.

EIB Vice-President Ambroise Fayolle emphasized the importance of this collaboration, stating, “The EIB's investment is not just about the initial capital injection; it is also intended to have a multiplier effect by attracting more investors, reducing risk, showcasing successful projects, and promoting best practices in climate finance."

With Africa facing increasing climate threats, the ICRF aims to embed resilience measures into infrastructure projects from design to operation. 

The Fund will focus on sectors including transport, logistics, clean energy, digital infrastructure, and industrial development—ensuring that investments not only withstand climate challenges but also support low-carbon growth.

By integrating tools such as climate risk parametric insurance and providing technical assistance for climate risk assessment, the initiative aligns with global sustainability goals and the European Union’s Global Gateway strategy. 

AFC President & CEO Samaila Zubairu described the Fund as a game-changer for Africa’s economic future, highlighting its role in bridging the climate adaptation funding gap and driving sustainable job creation.

Samaila Zubairu said, “By focusing on climate-resilient infrastructure, we are not only securing our economic future but also creating opportunities for sustainable growth, and supporting job creation across the continent.”

The EIB’s commitment, announced at the Finance in Common Summit (FICS) in Cape Town, marks a significant milestone in Africa’s journey toward climate-resilient and sustainable infrastructure development.