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鈥檚 objective.
PIDG said EAAIF鈥檚 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 (鈧�921.6m) to emerging Asian and African economies over the next four-years.
Philippe Valahu, PIDG鈥檚 CEO, said: 鈥淲e are delighted to formally expand the Fund鈥檚 mandate. The integrated approach will enable EAAIF to benefit from PIDG鈥檚 expertise across the two regions and deliver impact at scale.鈥�
Martijn Proos, co-head of emerging market alternative credit and MD for EAAIF at Ninety One, said: 鈥淎s sustainable infrastructure financing becomes a more significant priority for countries across the globe, we are delighted to announce EAAIF鈥檚 expansion into Asia.
鈥淭his expansion enables the fund to further diversify its portfolio, and share expertise from the team鈥檚 project, corporate and structured finance, asset management, and de-risking expertise across geographies in Asia and Africa 鈥� creating economic opportunities that deliver impact and commercially sound returns.鈥�
Roland Janssens, MD at Ninety One, said: 鈥淔rom 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.
鈥淓AAIF will leverage PIDG and Ninety One鈥檚 strong track record of investing in Asia to support EAAIF鈥檚 participation in Asian infrastructure debt markets and accelerate the transition to a lower-carbon future.鈥�
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