The Emerging Africa Infrastructure Fund has changed its name to the Emerging Africa and Asia Infrastructure Fund (EAAIF) to reflect its expanded focus on South and Southeast Asia.
EAAIF, managed by Ninety One, is an impact investor providing debt finance. The Private Infrastructure Development Group (PIDG) company said infrastructure development in Africa remains a core focus for the fund’s objective.
PIDG said EAAIF’s expanded scope allows it to catalyse transformative infrastructure projects in dynamic growth markets like Indonesia, Vietnam and Malaysia, while also bolstering the resilience of vulnerable communities in low and middle-income countries affected by the climate crisis.
EAAIF intends to allocate over $1bn (€921.6m) to emerging Asian and African economies over the next four-years.
Philippe Valahu, PIDG’s CEO, said: “We are delighted to formally expand the Fund’s mandate. The integrated approach will enable EAAIF to benefit from PIDG’s expertise across the two regions and deliver impact at scale.”
Martijn Proos, co-head of emerging market alternative credit and MD for EAAIF at Ninety One, said: “As sustainable infrastructure financing becomes a more significant priority for countries across the globe, we are delighted to announce EAAIF’s expansion into Asia.
“This expansion enables the fund to further diversify its portfolio, and share expertise from the team’s project, corporate and structured finance, asset management, and de-risking expertise across geographies in Asia and Africa – creating economic opportunities that deliver impact and commercially sound returns.”
Roland Janssens, MD at Ninety One, said: “From a strategic base in Singapore, EAAIF will seek to invest in transformative infrastructure projects in priority sectors such as renewable energy, digital communications and transport.
“EAAIF will leverage PIDG and Ninety One’s strong track record of investing in Asia to support EAAIF’s participation in Asian infrastructure debt markets and accelerate the transition to a lower-carbon future.”
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