AfDB, ILX partner to mobilize European institutional capital for sustainable projects across Africa

African Development Bank and ILX Management B.V. (ILX) signed a partnership agreement to scale up investments and spur institutional investor capital mobilization for Sustainable Development Goals and climate-focussed private sector projects in the Bank Group’s regional member countries.
The signing ceremony took place at the offices of ILX Management in the Netherlands capital Amsterdam.
ILX’s investors are the Dutch pension fund asset managers APG Asset Management, (on behalf of ABP and bpfBOUW) and Achmea Investment Management, (on behalf of Pensioenfonds Vervoer), with other Dutch and European pension fund participants in ILX successor funds expected to join in the future.
ILX Fund I provides a scalable $1 billion private credit investment strategy to be deployed across emerging and developing countries, co-financing with global Multilateral Development Banks (MDB) and other DFIs.
The cooperation arrangement enables the African Development Bank to deliver on its ambition to mobilize financial resources from institutional investors to bridge the significant financing gap required to meet the Bank’s High Five priorities: Light up and Power Africa; Feed Africa; Industrialize Africa; Integrate Africa and Improve the quality of life for the people of Africa.
This partnership will allow the Bank and ILX to support non-sovereign operations in these key priority sectors. The High 5s are intrinsically linked to the SDGs.
At the same time, the arrangement offers ILX Fund pension fund participants the opportunity to benefit from the AfDB’s long-standing track record of successfully investing in key economic sectors across Africa.