Africa50                            

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Context: Power Grid Corporation of India Limited (POWERGRID) has signed a Joint Development Agreement with Africa50.

About Africa50:

• It is an infrastructure investment platform that was founded by the African Development Bank (AfDB) and African states
• Aim: contributes to Africa’s economic growth by developing and investing in bankable infrastructure projects by catalyzing public sector capital, and mobilizing private sector funding, with differentiated financial returns and impact.
• Membership: It currently has 31 shareholders, comprised of 28 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib.

https://www.pib.gov.in/PressReleasePage.aspx?PRID=1789463