The Glasgow Financial Alliance for Net Zero (GFANZ) and the African Development Bank Group (AfDB) announced a partnership intended to catalyze greater flows of private sector capital into Africa by convening leading private financial institutions with AfDB. Implementation will run through GFANZ, building on a letter of intent signed at the Africa Climate Summit in Nairobi, and will be anchored in the GFANZ Africa Network with a focus on attracting investment and strengthening African capital markets. In the coming months, GFANZ and AfDB plan to raise investor awareness of AfDB’s mobilization toolkit and investment opportunities, collect feedback from private sector partners, explore additional approaches to mobilize private capital, and identify and support financial and policy innovations to enhance investor participation. The joint effort will be supported by Dr. Mahmoud Mohieldin, Chair of the GFANZ Africa Network Advisory Board, working in close collaboration with AfDB leadership.

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