BRAZZAVILLE, Republic of the Congo, February 27, 2025/APO Group/ –As Africa’s third-largest crude oil producer, the Republic of Congo has set an ambitious goal of increasing production to 500,000 barrels per day (bpd) by 2027. To attract new investment in exploration and production, the country is leveraging policy reforms and plans to launch a new licensing round in Q1 2025.

With its production drive led by landmark projects from international oil companies, Congo has emerged as one of Africa’s most attractive oil markets. The participation of Osayande Igiehon, CEO of Nigerian integrated energy company Heirs Energies, at the Congo Energy & Investment Forum (CEIF) 2025 this March reflects the country’s growing appeal to indigenous African oil explorers and producers.

The inaugural Congo Energy & Investment Forum, set for March 24-26, 2025, in Brazzaville, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

Heirs Energies currently operates OML 17 in the Niger Delta, onshore Nigeria. The asset includes 15 oil and gas fields with significant potential for growth, offering multiple low-risk opportunities to develop high-grade reserves. The company recently ramped up production to 53,000 bpd, making it one of Nigeria’s leading oil and gas producers. Through the participation of indigenous operators like Heirs Energies, CEIF 2025 is expected to provide valuable insights into how Congo can maximize the potential of its mature oil fields to meet its ambitious production targets

“Igiehon’s involvement in CEIF 2025 underscores the growing collaboration between Africa’s oil-producing nations. His participation highlights the potential for both local and international players to capitalize on new opportunities in the region’s evolving energy landscape,” states Sandra Jeque, Events and Project Director at Energy Capital & Power.

By showcasing Congo’s strategic approach to sustainable oil production growth, CEIF 2025 will highlight the country’s expanding role in Africa’s energy market. Participants will gain firsthand insight into how collaboration between local and international stakeholders is key to unlocking the full potential of oil and gas projects set to transform the national energy landscape.

CAPE TOWN, South Africa, February 27, 2025/APO Group/ –The European Investment Bank (EIB) has committed to join Africa Finance Corporation (AFC) (www.AfricaFC.org) in financing a $750 million Infrastructure Climate Resilient Fund (ICRF). This landmark initiative will accelerate climate adaptation and sustainable infrastructure across Africa.

As part of this commitment, the EIB today confirmed it will invest $52.48 million in the Fund, which is managed by AFC Capital Partners (ACP), the asset management arm of AFC. ACP has already secured a $253 million commitment from the Green Climate Fund (GCF), marking GCF’s largest-ever equity investment in Africa. In addition, the Nigeria Sovereign Investment Authority (NSIA) and two private African pension funds have also committed to the Fund, demonstrating robust institutional backing on the continent and internationally.

The Infrastructure Climate Resilient Fund aims to accelerate climate adaptation in Africa by embedding resilience measures at every stage of infrastructure development—from design and construction to operation. Using blended finance to de-risk private investment, the Fund also integrates innovative tools such as climate risk parametric insurance to enhance protection against climate-related risks and losses. In addition, the Fund will provide technical assistance to enhance the capacity of countries seeking climate risk assessment and adaptation, aligning with the European Union’s Global Gateway initiative and the UN Sustainable Development Goals.

The EIB formally signed the agreement at the Finance in Common Summit (FICS) in Cape Town today, demonstrating the close collaboration between the EIB, AFC, and other strategic partners.

“The EIB is committed to supporting private sector investment in climate-resilient infrastructure, especially in regions most vulnerable to climate change,” EIB Vice-President Ambroise Fayolle stated at the ceremony today. “This partnership with the Africa Finance Corporation and the launch of ACP’s Infrastructure Climate Resilient Fund are a significant step towards accelerating Africa’s green and digital transition and ensuring a sustainable future for all. 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.”

ACP’s fund aims to demonstrate that Africa can pursue a climate-resilient and sustainable development path by addressing market failures, mitigating environmental risks, strengthening logistics, trade, and industrialization, and accelerating the continent’s digital and energy transition.

“This Fund is crucial for bridging the funding gap for climate adaptation in Africa,” Samaila Zubairu, AFC’s President & CEO, said at the launch event today. “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. We are glad to partner with the EIB and other investors who are committed to increasing the impact of climate finance.”

Developing Climate-Resilient Infrastructure

The ICRF focuses on Africa, the world’s most climate-vulnerable continent, by investing in infrastructure that can withstand the impacts of climate change while reducing carbon emissions. The Fund prioritizes resilient, low-carbon solutions across transport and logistics, clean energy, digital infrastructure, and industrial development, ensuring sustainable growth.

ACP’s investment strategy evaluates climate risk across both physical and transition dimensions, including emissions and climate governance. The Fund is committed to ensuring that infrastructure assets are designed, built, and operated to withstand and adapt to evolving climate conditions. To achieve this, ACP will conduct rigorous climate risk screenings and assessments for every investment, establishing a new benchmark for selecting and implementing the most effective adaptation solutions.

The Fund leverages a powerful partnership between three major institutions—EIB, AFC, and GCF—uniting their expertise, capital, and commitment to climate resilience. Aligned with the EIB’s Climate Bank Roadmap, ACP will draw on the proven track records and deep technical expertise of both EIB and AFC in infrastructure investment, creating a compelling platform to attract additional investors. Through this strategic collaboration, the $750 million fund is poised to unlock up to $3.7 billion in financing, accelerating the deployment of climate-resilient infrastructure across Africa.

The GCF will play a critical role by providing technical assistance for due diligence and climate resilience monitoring while also covering the first-loss tranches on new investments, effectively de-risking projects and attracting private capital.

Once operational, the Fund aims to invest in a diversified portfolio of 10 to 12 projects across Africa. It will also assist countries and entities in capacity building and deployment of climate risk assessment and adaptation solutions.

Further Information

Leveraging Partnerships

The Fund is built on a powerful partnership between three major institutions: the European Investment Bank (EIB), Africa Finance Corporation (AFC), and the Green Climate Fund (GCF). Through its asset management arm, AFC Capital Partners (ACP), AFC is collaborating with the EIB to deploy the Fund, leveraging both institutions’ proven track records and technical expertise in infrastructure investment to attract additional investors. The partnership is further strengthened by the GCF’s critical role in providing first-loss protection and technical assistance, ensuring a robust framework for scaling climate-resilient infrastructure across Africa.

 

Mobilizing Climate Finance

The EIB’s $52.48 million commitment is a strategic step toward the Fund’s $750 million target, aimed at catalysing additional investments from both private and public sector partners into climate-resilient infrastructure. This commitment is expected to help mobilize approximately $3.7 billion in total financing, driving tangible, on-the-ground impact across Africa.

Focusing on EIB’s core priorities agreed by ECOFIN

The EIB investment will support the climate bank ambition to accelerate international action on adaptation and resilience. With an expected climate action and environmental sustainability contribution of about 80%, the operation will contribute to EIB’s objectives to dedicate (i) 50% of its financing toward climate action and environmental sustainability and (ii) 15% of its financing toward to climate adaptation by 2025. The Fund supports three of the five EU Global Gateway thematic priorities: i) climate and energy, ii) transport and iii) digital.

Addressing Market Failures

The EIB investment in ACP’s Infrastructure Climate Resilient Fund is intended to address the scarcity of equity capital for greenfield infrastructure projects, and to help overcome other market failures such as the lack of incentives for green energy solutions or market failures related to transport accessibility and digital connectivity. The Fund also aims to improve the efficiency of logistics and trade corridors and contribute to the digital and energy transition.

Supporting the Green and Digital Transition

By investing in clean energy and digital infrastructure, the Fund aims to support the broader green and digital transition in Africa and contribute to diversification and security of energy supply, as well as improved access to digital connectivity.

Enhancing Capacity for Climate Risk Management

ACP’s Infrastructure Climate Resilient Fund will provide technical assistance to build capacity for climate risk assessment and adaptation, with a focus on integrating climate risk considerations into project design and construction.

Creating Jobs and Economic Opportunities

Projects backed by ACP’s Infrastructure Climate Resilient Fund will contribute to job creation, economic growth, and improved quality of life in the target regions. These projects are expected to generate significant temporary employment during construction as well as permanent jobs during operation.

Key projects in the ICRF pipeline, such as the Lobito Corridor, underscore AFC’s pivotal role in driving transformational and climate-resilient infrastructure investments across Africa. As the lead developer of the project, AFC is spearheading efforts to enhance regional connectivity and economic integration through the corridor, which is set to become a critical trade and logistics route linking Angola, the Democratic Republic of Congo (DRC), and Zambia.

The Lobito Corridor is expected to unlock vast economic opportunities by facilitating efficient transportation of critical minerals, agricultural goods, and other commodities, reducing dependency on other congested export routes and fostering industrial development along the wider corridor. Alongside partners including the European Union, the United States Government, the African Development Bank and the governments of Angola, the Democratic Republic of Congo and Zambia, AFC is working to ensure the corridor is developed with climate resilience in mind, integrating sustainable infrastructure solutions that can withstand environmental challenges while promoting long-term economic growth.

Beyond Lobito, the ICRF pipeline includes other strategic projects across transport, clean energy, and digital infrastructure, all designed to attract institutional investment and address Africa’s pressing infrastructure gap. Through these initiatives, ACP continues to highlight its commitment to mobilizing capital for projects that deliver both financial returns and lasting developmental impact.

The investments backed by the Fund will actively promote the adoption of Environmental, Social, and Governance (ESG) best practices, including gender equality, protection, and anti-discrimination policies.

De-risking Investments

The Fund’s structure, with support from the EIB and other institutions like the Green Climate Fund (GCF), aims to de-risk climate investments.

The GCF is providing grant funding to help with due diligence and monitoring of climate resilience, which can make the investments more attractive to other investors. Additionally, the Fund will integrate innovative climate risk insurance to complement traditional indemnity programs.

Aligning with Global and Regional Objectives

The EIB investment aligns with EU strategies, the African Union’s Agenda 2063, and the UN Sustainable Development Goals, and aims to support the implementation of Nationally Determined Contributions.

BRIDGETOWN, Barbados, February 27, 2025/APO Group/ –The CARICOM Development Fund (CDF) and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) have signed a €708,000 Grant Agreement to support the development of a Green, Resilience, and Sustainability Facility (GRSF). The agreement was formalized during the plenary session of the 48th Regular Meeting of the Conference of Heads of Government of CARICOM, recently held at the Wyndham Grand Barbados Sam Lord’s Castle.

The GRSF’s commitment to providing blended financing, concessional financing, and other commercial funding options directly supports CARICOM’s development by enhancing regional resilience, sustainability, and economic adaptability. By offering flexible financial solutions, the fund empowers CARICOM member states to invest in critical infrastructure, climate adaptation projects, and sustainable development initiatives. This strategic approach aligns with CARICOM’s vision for a more resilient and self-sufficient region, ensuring long-term growth while mitigating environmental and economic vulnerabilities.

Mr. Rodinald Soomer, CEO at the CARICOM Development Fund emphasized the importance of the partnership in advancing the Caribbean’s sustainability agenda. “This grant from Afreximbank will enable the CDF to strengthen its support for CARICOM Member States as they navigate the pressing environmental and economic challenges of our time. The Green, Resilience, and Sustainability Facility is a critical step towards ensuring long-term resilience and economic sustainability.”

On his part, Prof Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, remarked that: “GRSF will provide a means of catalyzing and mobilizing investments to support Caribbean countries that are facing economic and fiscal challenges arising from the impact of frequent and intense adverse weather phenomena associated with climate change. It will also act as a mechanism to finance climate-related loss and damage and build resilience that will mitigate impacts and empower Caribbean Community member states to withstand these challenges, working towards closing the regions US$20 billion resilience financing shortfall.”

Afreximbank and the CDF solidified their strategic partnership in August 2023 through a Memorandum of Understanding and the CDF’s acquisition of shares in the multilateral development Bank, demonstrating a mutual commitment to future collaboration.

The grant agreement was signed at the 48th Regular Meeting of the Conference of Heads of Government of CARICOM which brought together regional leaders to discuss pressing issues, including economic recovery, climate action, and sustainable development. The signing of the Grant Agreement marks a significant milestone in strengthening regional and international cooperation for sustainable growth.

The CDF recognizes that as the region’s development challenges become more complex, many can best be solved through market-based solutions. CDF’s Financial Innovation team is working to expand collaboration with various sectors and establish pioneering approaches that catalyze investments within disadvantaged countries, regions, sectors, and communities.

Increasingly, investors and businesses are looking at emerging markets for new opportunities. However, investing in these markets is complex, and the CDF has an important role to play in mobilising investment into high-impact areas.  Encouraging these investments requires new forms of collaboration. The CDF has engaged with several partners to collaborate in delivering its mandate since inception. Most recently, it also partnered with the USAID in the delivery of the Caribbean Community Resilience Fund (CCRF), a blended finance fund aimed at mobilizing capital from commercial, development finance institutions, and impact investors towards climate resilience and economic sustainability in the Caribbean region.