The International Finance Corporation (IFC), the private sector arm of the World Bank, has proposed committing $130m (£98.2m) to a global private infrastructure debt fund managed by BlackRock.
In a filing, the IFC said it plans to invest in the closed-end Infrastructure Resilience Development Fund, which targets emerging markets and will invest in US dollar-denominated senior and mezzanine infrastructure debt instruments.
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According to the IFC, the fund comprises three investment vehicles designed to align with the risk expectations of institutional investors.
The institution’s $130m commitment will be split between up to $95m in the blended fund and up to $35m in the mezzanine tranche of the junior fund.
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Overall, the Infrastructure Resilience Development Fund will allocate between 40 and 60 per cent of investments to Latin America, 30 to 50 per cent to Asia, and 10 to 20 per cent to Africa.
The fund is expected to invest in up to 20 projects.
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