Swedfund Strengthens Sustainable Development with $41 Million Investment in EAAIF
Swedfund, Sweden’s development finance institution, has invested over $41 million (€40 million) in the Emerging Africa & Asia Infrastructure Fund (EAAIF). Managed by Ninety One under the Private Infrastructure Development Group (PIDG), the fund focuses on bridging infrastructure gaps across Africa, the Levant, and South and Southeast Asia, emphasizing climate action, inclusivity, and sustainable development.
Africa remains the most affected by energy shortages, with 75% of the world's electricity-deprived population living on the continent. Asia also faces energy access challenges, impacting over 500 million people. The EAAIF seeks to improve low-carbon infrastructure while supporting climate mitigation and adaptation, advancing net-zero transitions. Since 2001, it has invested over $2.5 billion in 96 projects across 20+ African countries.
Swedfund has also contributed to sustainable investments, including the $48 million first close of E3LCEF, Husk Power’s $103 million Series D round, and Côte d’Ivoire’s Biovea biomass plant, which serves 743,000 consumers. In July 2024, it invested $30 million in Access Bank Nigeria to support MSMEs and financial inclusion.
This latest investment reinforces Swedfund’s commitment to high-impact projects, leveraging partnerships with private sector leaders like Allianz and Standard Bank.
Source: Tapiwa Matthew Mutisi / Innovation Village