The Emerging Africa & Asia Infrastructure Fund (EAAIF), managed by Ninety One and part of the Private Infrastructure Development Group (PIDG), has completed a successful $325 million debt raise to accelerate emerging market infrastructure development. This latest funding round increases EAAIF’s total recent commitments to $620 million, surpassing its $500 million target ahead of schedule.
This strategic move reaffirms EAAIF’s position as a premier infrastructure debt provider in Africa and Asia, offering investors access to scalable and impactful infrastructure debt opportunities. The fund operates with a strong Moody’s A2 credit rating, ensuring low-risk access to frontier market infrastructure assets.
Major Contributions from Global Financial Institutions
Leading the new debt package was Allianz Global Investors (AGI), which committed €100 million on behalf of Allianz Group. Other significant contributions include $75 million from South Africa’s ABSA, $50 million from Standard Bank, $50 million from Japan’s Sumitomo Mitsui Banking Corporation (SMBC), and €40 million from Sweden’s Swedfund. These new facilities build upon the $294 million raised by EAAIF in 2024.
This robust funding effort illustrates the global investor confidence in the fund’s strategy to leverage infrastructure debt as a powerful tool for development across Africa and Asia.
Transformative Goals in Sustainable Infrastructure
EAAIF’s current trajectory aligns with its broader ambition to mobilize over $1 billion in next-generation infrastructure investments by 2028. These investments will target key sectors such as digital transformation, energy transition, and climate-resilient infrastructure, addressing critical gaps in both regions.
The need for infrastructure financing is especially urgent. Africa is currently meeting only 23% of its climate finance needs, while the Asia-Pacific region faces an $800 billion climate finance shortfall. Through its whole-lifecycle development approach, PIDG and EAAIF are positioned to drive measurable impact and promote climate adaptation and mitigation efforts.
Longstanding Experience and Global Reach
Since its inception in 2001, EAAIF has committed over $3 billion to more than 125 infrastructure projects across 25+ countries and 10 sectors, reinforcing its leadership in emerging market infrastructure investment. Moody’s reaffirmed its A2 issuer rating in 2024, underlining the fund’s credibility and low default risk.
Executive Statements Reflect Strong Vision
Martijn Proos, Co-head of Emerging Market Alternative Credit at Ninety One, emphasized that the fund’s ability to raise capital globally reflects investors’ confidence in EAAIF’s approach: “We are favourably positioned to drive economic transformation and sustainable growth through innovative debt solutions.”
Philippe Valahu, CEO of PIDG, added: “This milestone enables PIDG to further its goal of mobilising $25 billion for infrastructure development by 2030. We remain committed to delivering innovative, high-impact financing across the project lifecycle.”
Maria Håkansson, CEO of Swedfund, reinforced the fund’s significance in closing the infrastructure investment gap: “EAAIF plays a critical role in de-risking projects and attracting private capital to infrastructure markets often overlooked.”
Neha Bantha of Standard Bank noted: “Our participation supports strategic projects vital to Africa’s growth, reinforcing our goal to deliver capital solutions that harness Africa’s potential.”
Nisrin Abouelezz from SMBC highlighted sustainability: “We’re proud to support infrastructure investments aligned with global energy transition and social value creation across emerging markets.”
Shyam Ganda of ABSA concluded: “As a Pan-African bank, we are committed to bridging the long-term financing gap and accelerating renewable energy expansion across Africa and Asia.”
About the Organizations
Emerging Africa & Asia Infrastructure Fund (EAAIF)
EAAIF is a blended finance facility supporting transformative infrastructure in Africa, South and Southeast Asia, and the Levant. Backed by governments including the UK, Netherlands, Sweden, and Switzerland, the fund provides commercial-term debt for privately managed infrastructure projects. EAAIF is managed by Ninety One and plays a pivotal role in enhancing economic resilience and poverty reduction through infrastructure. Visit: www.eaif.com
Private Infrastructure Development Group (PIDG)
PIDG is a specialist project developer focused on inclusive and climate-friendly infrastructure in sub-Saharan Africa and Asia. It provides Technical Assistance, concessional capital, and innovative credit solutions through vehicles like EAAIF, GuarantCo, and InfraCo. PIDG is funded by global donors including the UK, Germany, Canada, and Sweden. Learn more: www.pidg.org
Ninety One
Ninety One is a global asset manager overseeing $168.8 billion in assets as of March 2025. With roots in South Africa, it focuses on long-term, sustainable investment strategies across asset classes. Formerly Investec Asset Management, Ninety One serves institutional and retail investors globally. Website: www.ninetyone.com
Media Contact: Tom Collins | [email protected]
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Published by: Capital Markets in Africa
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