The African Development Bank (AfDB) has formally approved a $100 million loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF), a flagship investment vehicle strategically managed by global investment firm NinetyOne. This major capital injection is aimed at accelerating critical infrastructure development across emerging markets.
This latest initiative by the AfDB is a key element of EAAIF’s comprehensive debt financing strategy. The fund has ambitious plans to secure long-term funding.
2025 Capital Goals: EAAIF aims to raise a total of $300 million in long-term debt capital through 2025. Total Investment Channeling: The new funding, combined with EAAIF’s existing capital base, will enable the Fund to inject more than $850 million into infrastructure projects across Africa and Asia. Deadline: This major investment is expected to take place by 2027.
The $850 million planned investment will be strategically focused on areas essential to modern economic growth and climate resilience.
Energy generation: A clear focus on renewable energy projects and supporting power infrastructure. Transport networks: Strengthen logistics and connectivity between regions. Digital connectivity: Expanding access to modern communications and internet services. Climate resilience: financial infrastructure built to withstand and adapt to the impacts of climate change.
AfDB’s approval underscores the strength of its relationship with EAAIF. The $100 million loan is the fourth time a development finance institution (DFI) has provided financing to the Fund, demonstrating a strong and enduring partnership built on common development goals.
Mike Salaou, AfDB’s Director of Infrastructure and Urban Development, emphasized the multidimensional strategic importance of this loan:
Unlock critical finance: This partnership is a direct mechanism to “unlock long-term finance” needed for critical projects that serve as the backbone of economies, creating jobs and improving quality of life across Africa. Promoting private capital: Importantly, this partnership directly addresses the “continent’s infrastructure financing gap” by using DFI funding as a catalyst to attract private capital to high-impact projects within emerging and frontier markets.
Sumit Kanodia, Director, NinetyOne, expressed the fund manager’s enthusiasm for strengthening the partnership.
Investment Capacity: New funding from AfDB will help EAAIF provide significant funding for more renewable energy, digital and transport projects. Development outcomes: The ultimate goal of these investments is to produce tangible development outcomes, including promoting inclusive growth, creating sustainable jobs, and building essential climate resilience within the regions we serve.
The deal essentially demonstrates how multilateral development banks can leverage capital to reduce risk and attract private investment in critical infrastructure, with a particular focus on promising areas such as renewable energy and digital connectivity.
