• Emerging Africa & Asia Infrastructure Fund (EAAIF) raises $325 million in new round

• Funds to support infrastructure in renewable energy, digital, and energy sectors

• EAAIF aims to invest over $1 billion by 2028 across Africa and Asia

The Emerging Africa & Asia Infrastructure Fund (EAAIF), part of the Private Infrastructure Development Group (PIDG) and managed by Ninety One, announced on May 20, 2025, that it has secured $325 million in new funding. The financing comes amid a growing urgency to close Africa’s climate finance gap, where only 23% of funding needs are currently met.

This latest round follows a $294 million raise in 2024 and brings the fund closer to its $500 million target by the end of 2025. Backers of the operation include Allianz Global Investors, which contributed €100 million ($113.25 million), along with ABSA, Standard Bank, SMBC, and Swedfund.

The capital will enable EAAIF to deploy more than $1 billion by 2028 into essential infrastructure projects. Priority areas include renewable energy, digital infrastructure, and energy markets, with a focus on long-term, sustainable development in emerging economies.

According to Philippe Valahu, CEO of PIDG, the initiative supports a broader goal to generate $9 billion in new infrastructure commitments and to mobilize $25 billion in additional capital by 2030. PIDG specializes in financing and developing sustainable infrastructure projects across sub-Saharan Africa and Asia.

Since its creation in 2001, EAAIF has committed over $3 billion across 125 projects in 25 countries, spanning 10 sectors. In 2024, Moody’s reaffirmed the fund’s A2 credit rating with a stable outlook, highlighting its solid financial performance and low default rate.

EAAIF operates as a blended finance platform, combining public and private capital to support projects in Africa, the Levant, and Southeast Asia. Its model integrates project design, financing, and long-term sustainable management.