The funds will be allocated through the Emerging Africa & Asia Infrastructure Fund (EAAIF), an entity under the Private Infrastructure Development Group (PIDG), managed by investment firm Ninety One.

Swedfund’s investment is set to prioritize climate-resilient infrastructure projects that promote adaptation strategies, facilitate the transition to net-zero emissions, and enhance digital connectivity.

These projects may also receive technical assistance from PIDG to support underserved communities, ensuring gender inclusion, climate resilience, and nature conservation outcomes.

The initiative aims to address risk perceptions surrounding infrastructure investments in Africa, foster investor confidence, and attract private capital.

This approach is critical to bridging the financing gap and strengthening capital markets to enhance social and environmental impact.

Infrastructure challenges remain significant across the targeted regions. Africa, for instance, has the highest percentage of people without access to electricity, accounting for 75% of the global population lacking reliable power.

In Asia and the Pacific, an estimated 350 million people have only limited electricity access, while 150 million remain without any power supply, according to data from the Asian Development Bank. 

Limited energy access in South Asia and sub-Saharan Africa also affects digital connectivity and restricts access to essential services.

EAAIF is committed to advancing low-carbon infrastructure solutions while supporting industrial growth in Africa and Asia.

The fund’s work aligns with global net-zero targets and aims to close the energy access gap through mitigation and adaptation strategies.

Commenting on Swedfund’s contribution, Martijn Proos, Co-Head of Emerging Market Alternative Credit at Ninety One, emphasized the long-term impact of the commitment:

“Swedfund’s investment will enable the delivery of climate-resilient and inclusive infrastructure projects that drive economic transformation and improve livelihoods across Africa and Asia. Furthermore, the benefits extend beyond project sites, providing individuals and businesses with the confidence to plan for the future.”

Since its inception in 2001, EAAIF has facilitated high-impact infrastructure development in Africa and Asia, providing patient debt capital for projects valued at over $2.5 billion across various sectors and regions.