The Asian Development Bank (ADB) has approved a USD30 million equity investment in the Emerging Asia Infrastructure Credit Fund (EAIC), managed by BlackRock, marking its first investment partnership with the asset manager. The fund has also secured USD27.5 million in additional climate financing, comprising USD10 million from the Canadian Climate and Nature Fund for the Private Sector in Asia and USD17.5 million from the Australian Climate Finance Partnership, both administered by ADB. The combined approved financing of USD57.5 million will support the fund’s targeted capitalisation of USD750 million.
EAIC will provide debt financing for new and existing infrastructure projects and businesses transitioning towards lower-carbon operations across Southeast Asia, including the Philippines, Cambodia, Indonesia, Laos, Malaysia, Thailand and Vietnam. Potential investment areas include energy, water and waste management, transportation and digital infrastructure, with individual commitments expected to range from USD20 million to USD75 million across 10–20 investments. The fund may also finance energy storage, industrial electrification, green data centres, hydrogen, ammonia and carbon capture technologies. Its blended finance structure comprises 80 per cent senior institutional capital and 20 per cent junior catalytic capital, with the latter designed to absorb initial losses and attract private institutional investors.