Sweden’s development finance institution Swedfund has committed €40m to the Emerging Africa & Asia Infrastructure Fund (EAAIF) to support climate-friendly infrastructure projects.
EAAIF, a Private Infrastructure Development Group (PIDG) company and impact debt finance fund managed by Ninety One, will use the investment to address infrastructure gaps in Africa, the Levant and South and Southeast Asia by supporting projects focused on climate action and sustainable development.
Martijn Proos co-head of emerging market alternative credit at Ninety One, said Swedfund’s commitment will help “deliver climate-resilient, inclusive infrastructure projects that transform economies and improve lives in Africa and Asia”.
“Moreover, the effect is felt by people and businesses far beyond the original project location. Quality infrastructure enables people and businesses to plan for the future with confidence,” he added.
Swedfund’s investment will target climate-resilient infrastructure projects. Where appropriate, these projects may receive technical assistance from PIDG to build resilience in underserved communities and enhance positive outcomes related to gender, inclusion, climate and nature.
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