Swedfund, Sweden’s development finance institution, has announced a €40 million commitment to the Emerging Africa & Asia Infrastructure Fund (EAAIF). This investment will support the development of climate-friendly infrastructure projects across Africa, the Levant, and South and Southeast Asia.
The EAAIF, a Private Infrastructure Development Group (PIDG) company managed by Ninety One, will utilize the funding to address critical infrastructure gaps in the target regions. The fund will prioritize projects focused on climate action and sustainable development, contributing to economic growth and improved living standards.
Martijn Proos, Co-Head of Emerging Market Alternative Credit at Ninety One, emphasized the significance of Swedfund’s investment. “Swedfund’s commitment will enable us to deliver climate-resilient, inclusive infrastructure projects that will transform economies and improve lives in Africa and Asia,” he stated. “The impact of these projects extends far beyond their immediate location, empowering individuals and businesses to plan for the future with greater confidence.”
Swedfund’s investment will specifically target climate-resilient infrastructure projects. In select cases, these projects may also benefit from technical assistance provided by PIDG. This support will further enhance project resilience in underserved communities and maximize positive outcomes related to gender equality, social inclusion, climate change mitigation, and environmental protection.
This strategic investment by Swedfund underscores its commitment to supporting sustainable development and fostering economic growth in emerging markets. By partnering with EAAIF and PIDG, Swedfund aims to drive positive change and create a more sustainable future for communities in Africa and Asia.
