The Insurance Development Forum (IDF) has announced the first close of its Infrastructure Resilience Development Fund (IRDF), securing $340 million to finance resilient infrastructure projects across emerging markets and developing economies (EMDEs).
The fund, managed by Global Infrastructure Partners (GIP), part of BlackRock, was developed from the Infrastructure Resilience Development Blueprint co-created by IDF members AXA, Convex, Generali, SCOR, Swiss Re, and Zurich. A news release highlighted that the fund is designed to align with the investment requirements of the insurance sector and other institutional investors, while supporting the IDF’s objective of addressing natural catastrophe protection gaps and strengthening resilience in vulnerable communities.
The fund will invest in small to medium-sized commercial infrastructure projects across EMDEs. Its portfolio will include sectors such as clean water and water management, waste management, energy, transportation, healthcare, and digital infrastructure. The IRDF allows investors to take part in a blended pool of senior and mezzanine debt, aiming to deliver exposure to risk-adjusted returns and stable cashflow, alongside measurable social and environmental outcomes.
The first close includes a significant commitment from the International Finance Corporation (IFC) and contributions from IDF members involved in developing the fund blueprint. The IRDF has authorised its first investment and has identified a pipeline of additional potential projects. Fundraising is expected to continue into 2026.
“This project is an important step in unlocking investment in infrastructure projects in emerging markets and developing economies with an attractive risk-return profile,” said Jean-Baptiste Tricot, co-chair of the IDF Infrastructure Working Group and chief investment officer at AXA. “Our view is that the resilience theme is highly complementary to infrastructure and will allow for a broad range of investments across different sectors.”
“This successful first close in a challenging global environment is a confirmation of our commitment to drive greater mobilisation and more impactful insurance sector investment into a critical, underserved segment of the infrastructure market,” said Ekhosuehi Iyahen, secretary general of the IDF.
Mohamed Gouled, vice president of industries at IFC, added: “Expanding access to reliable infrastructure is one of the most efficient and impactful ways to drive growth and job creation in emerging and developing economies.”
The IDF, launched in 2016 following the COP21 Paris Climate Summit, is a public-private partnership that brings together the insurance industry, international organisations, and governments to improve risk understanding and resilience in disaster-prone regions.
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