(Ecofin Agency) - Through the Emerging Markets Infrastructure Fund II, the financial institution plans to finance transport and renewable energy projects in targeted countries where such infrastructure is limited, in Africa as well as in Southeast Asia.
The International Finance Corporation (IFC) plans to invest $50 million in an investment fund targeting transport and energy infrastructure projects in Africa.
Called Emerging Markets Infrastructure Fund II, the said fund was launched, in July 2023, by A.P. Moller Capital, with a target size of $1 billion. It focuses on South and Southeast Asia and Africa, and targets projects in several countries in these regions, mainly in the energy and transport sectors.
If approved by the IFC's Board of Directors, Emerging Markets Infrastructure Fund II will obtain additional resources to finance companies operating in the transport, logistics, and renewable energy sectors, in targeted countries where investment in these infrastructures is limited, but demand for these services is growing.
The fund, A.P. Moller Capital's second after Emerging Markets Infrastructure Fund I, will use the resources raised to finance projects in the fields of transport, logistics, cold-chain storage, port and airport infrastructure, as well as initiatives in the power and telecommunications sectors.