AfDB Secures $13.46 Million to Boost African Green Transport

With Africa’s urban population projected to double by 2050, the African Development Bank has secured $13.46 million from the Global Environment Facility to scale up clean transport. The funding package, approved on 18 June 2026, aims to bridge the gap between small-scale pilot projects and large-scale, low-emission infrastructure development.

Editorial·July 28, 2026·reads: 892

AfDB Secures $13.46 Million to Boost African Green Transport

The capital consists of a $12.46 million concessional loan and a $1 million grant for technical assistance. By utilizing blended finance and credit enhancement tools, the Green Mobility Financing Facility for Africa (GMFA) intends to lower the high upfront costs and perceived technology risks that currently hinder private investment in electric mobility. The initiative targets a broad spectrum of infrastructure, ranging from electric buses and motorcycles to battery-swapping networks and renewable energy-powered charging stations.

Komal Hassamal, a climate finance expert at the African Development Bank, noted that moving beyond isolated pilot projects requires a fusion of structured financing, market support, and policy reform. The bank is currently working to mobilize additional resources from partners including the Korea-Africa Economic Cooperation Trust Fund, the Sustainable Energy Fund for Africa, and the Fund for African Private Sector Assistance. These collective efforts aim to unlock at least $169 million in total investment to combat the rising traffic congestion and air pollution threatening Africa’s rapidly expanding cities.