…The $325 million debt package brings the Fund’s recent capital raises to $620 million, significantly surpassing its target of raising $500 million by the end of 2025.
…Since 2018, EAAIF has raised more than $1 billion in commitments across three debt raises.
……New funding fuels EAAIF’s plan to deploy over $1 billion to critical infrastructure projects in Africa and Asia by 2028.
TUE MAY 20 2025-theGBJournal| The Emerging Africa & Asia Infrastructure Fund (EAAIF), a Private Infrastructure Development Group (PIDG) company managed by Ninety One, a global investment manager managing $168.8 billion in assets, has successfully raised $325 million in new debt facilities.
The latest capital raise brings recent commitments to $620 million and exceeding the Fund’s $500 million target ahead of schedule.
The debt raise cements EAAIF’s position as the go-to partner for investors to access scalable, and untapped opportunities in the emerging market infrastructure debt asset class, through an A2 rated (Moody’s) lending platform.
”These successful subsequent debt raises highlight global investors’ confidence in EAAIF’s ability to create attractive investment solutions that seize untapped opportunities in fast-growth markets,” says Martijn Proos, Co-head of EM alternative Credit at Ninety One and Managing Director for EAAIF while commenting on the debt raise.
According to Proos, ”by strengthening our capital base and diversifying our funding sources, we are favourably positioned to drive business growth and economic transformation through private infrastructure debt investment in pioneering infrastructure. We thank Allianz, ABSA, Standard Bank, SMBC, and SwedFund for their continued support.”
Also, Neha Bantha, Executive Vice President for Leveraged Finance at Standard Bank Corporate & Investment Banking said his firm is proud to be part of this consortium which will enable funding for strategic infrastructure projects that underline our broader purpose, to drive Africa’s growth.
”This transaction forms a cog in our broader wheel of innovative financing and objective to deliver structured capital solutions that help our partners and clients deliver for the continent and we look forward to future partnership opportunities that leverage Africa’s immense potential.”
Allianz Global Investors (AGI) led the financing on behalf of Allianz Group, one of the world’s leading insurers and asset managers, committing €100 million to EAAIF.
One of South Africa’s largest financial services organisations, ABSA, provided $75 million. Standard Bank, Africa’s largest lender by assets, contributed an additional $50 million to facilities already provided.
Shyam Ganda, Director – Global Finance, ABSA, said Absa, as a Pan-African bank, is proud to partner with EAAIF in supporting projects which will accelerate infrastructure development for lasting impact – bridging Africa and Asia’s long-term financing gap, whilst supporting economic growth and renewable energy expansion.”
Japanese multinational bank Sumitomo Mitsui Banking Corporation (SMBC) extended a $50 million credit facility, while Swedfund, Sweden’s development finance institution, allocated €40 million. The new debt package builds on EAAIF’s $294 million capital raise secured in 2024.
This demonstrates the Fund’s ability to mobilise a global community of public and private investors united by a shared purpose of channeling capital, innovation, and expertise to expand infrastructure debt markets in Africa and Asia.
The new debt finance package will support EAAIF’s ambition to generate sustainable development impact and deliver positive returns.
The financing will enable $1 billion of investment by the Fund in next-generation infrastructure across Africa and Asia by 2028. EAAIF’s investment strategy targets assets that advance digital economies, scale transition infrastructure, and reshape power markets.
The successful debt raise comes at a critical time. The Asia-Pacific region alone faces a shortfall of at least $800 billion in climate financing, while just c.23% of Africa’s climate finance needs are currently met.
Action on climate is at the heart of PIDG’s strategy, which aims to improve economic resilience and climate opportunities for 100 million people by 2030.
As one of Africa’s longest-serving infrastructure debt providers, EAAIF draws on the Group’s whole life-cycle approach – spanning project development, financing, and long-term sustainability – to transform economies and improve lives, while delivering meaningful action on climate adaptation, resilience, and mitigation.
Since its inception in 2001, EAAIF has committed over $3 billion to more than 125 infrastructure projects across 25+ countries and 10 sectors in Africa and Asia.
In 2024, Moody’s reaffirmed the Fund’s foreign currency long-term issuer rating of A2 with a stable outlook and minimal default rate, reinforcing its position as a leading instrument for investors seeking investment protection, returns, and exposure to Africa and Asia’s growing infrastructure asset class.
Maria Håkansson, CEO of Swedfund, Sweden’s development finance institution, acknowledged EAAIF’s critical role in financing high-impact infrastructure projects across Africa, while challenging risk perceptions around African infrastructure investment and mobilising private capital.
”This is essential to closing the financing gap and building capital markets to achieve better environmental and social impact,” he said.
Similarly, Philippe Valahu, CEO of PIDG, spoke to EAAIF’s passion, drive and vision to deliver essential infrastructure that unlocks economic opportunities in the markets where we invest.
”This milestone is a significant step forward for PIDG, which aims to deliver $9 billion in new commitments for infrastructure and mobilise $25 billion in additional finance by 2030. We look forward to continuing this journey alongside our partners as we develop innovative mobilisation strategies across the project lifecycle to deliver progress in the regions where we operate,” he said.
”This transaction forms a cog in our broader wheel of innovative financing and objective to deliver structured capital solutions that help our partners and clients deliver for the continent and we look forward to future partnership opportunities that leverage Africa’s immense potential,” adds Neha Bantha, Executive Vice President for Leveraged Finance at Standard Bank Corporate & Investment Banking.
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