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Swedfund Invests USD 41M to Enhance Sustainable Infrastructure

Swedfund Invests USD 41M to Enhance Sustainable Infrastructure
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  • Swedfund, Sweden’s leading development finance institution, provided more than $41 million to the Emerging Africa and Asia Infrastructure Fund (EAAIF). 
  • This fund aims to promote efficient and climate-resilient infrastructure projects.
  • This investment aims to address significant infrastructure challenges across Africa, the Levant, and other countries around Asia.

Sweden’s development finance institution, Swedfund, has provided over $41 million to the Emerging Africa and Asia Infrastructure Fund (EAAIF). This project falls under the Private Infrastructure Development Group (PIDG) and is managed by investment firm Ninety One.

Addressing Energy Challenges

The EAAIF fund addresses energy shortages in regions where access to electricity is either limited or completely unavailable. Africa, for instance, remains the most energy-deprived continent, with nearly 75 percent of the world’s population lacking access to electricity.

Asia-Pacific also faces significant energy challenges, with more than 150 million people living without electricity at all and 350 million with minimal access. 

Energy gaps cause challenges, hinder digital connectivity, and limit access to essential services. Such challenges negatively impact broader socio-economic development in countries across South Asia and Africa.

The fund is currently fostering low-carbon infrastructure and implementing adaptation solutions that align with the global transition to net zero

Enhancing Infrastructure 

In 2023, Swedfund supported the E3 Low Carbon Economy Fund for Africa. This was a $48 million project that helped Africa shift to green energy. It also supported Husk Power’s $103 million Series D funding round aimed at expanding clean energy access in India.

The Fund also provided $20 million in debt financing for the 46 MW Biovea biomass plant in Côte d’Ivoire, which provides electricity to 743,000 consumers and helps reduce carbon emissions by 120,000 tons per year.

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