The African Development Bank (ADB), Africa50 and Africa Sovereign Investors Forum (ASIF) have signed a letter of intent to collaborate on developing green and climate-resilient infrastructure projects across Africa.
Under the collaboration, the three institutions will work on attracting financing and encouraging the development of skills and expertise within the infrastructure sector. The collaboration agreement will also focus on addressing project identification and preparation in an attempt to attract financing for projects.
The signature took place on the same day that the newly formed platform ASIF was launched. ASIF comprises 10 independent investors, including Agaciro Development Fund of Rwanda, Fonds Souverain de Djibouti, Fonds Gabonais d'Investissements Stratégiques (FGIS), Fonds Souverain d'Investissements Stratégiques (FONSIS) of Senegal, Fundo Soberano de Angola (FSDEA), Ghana Infrastructure Investment Fund (GIIF), Ithmar Capital (Morocco), Nigeria Sovereign Investment Authority (NSIA) and The Sovereign Fund of Egypt (TSFE).