Swedfund, Sweden’s development finance institution, is committing €40 million to the Emerging Africa & Asia Infrastructure Fund (EAAIF) to address infrastructure gaps in Africa, the Levant, and South and Southeast Asia.
Why it matters
Africa remains the most energy-deficient continent, with 75% of the world’s population lacking electricity. In Asia and the Pacific, over 350 million people have limited electricity access, while 150 million lack it entirely.
Poor infrastructure also limits digital connectivity, affecting access to essential services.
Driving the news
- The investment will support projects focused on climate action, sustainable development, and economic resilience.
- Swedfund’s backing will help de-risk African infrastructure investments, mobilizing private capital for long-term impact.
- The EAAIF has financed over $2.5 billion in infrastructure projects since 2001, including a $42 million loan for Côte d’Ivoire’s 46MW Biovea biomass plant, benefiting 743,000 consumers.
What they’re saying
“EAAIF plays a crucial role in financing impactful infrastructure projects. Swedfund’s contribution will help close the financing gap and build capital markets for better environmental and social impact,” said Jérémie Hoffsaes, Swedfund’s Energy & Climate team.
“Swedfund’s commitment will drive climate-resilient projects that transform economies and improve lives beyond their original location,” said Martijn Proos, Co-Head of Emerging Market Alternative Credit at Ninety One.
The big picture
Swedfund’s investment will prioritize:
- Low-carbon infrastructure for energy access and net-zero transitions.
- Digital connectivity in underserved regions.
- Climate adaptation to strengthen resilience in vulnerable communities.
What’s next
Swedfund joins private sector partners like Allianz and Standard Bank to scale high-impact projects. With additional technical assistance from PIDG, the initiative aims to drive inclusive growth, gender equity, and climate resilience across Africa and Asia.
