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The International Finance Corporation has disclosed a proposed commitment of up to $130 million in the Infrastructure Resilience Development Fund (IRDF), a global closed-end private infrastructure debt fund managed by BlackRock.
The fund aims to enhance resilience in emerging markets by investing in US dollar-denominated senior and mezzanine infrastructure debt instruments.
IRDF comprises three investment vehicles aligned to the risk expectations of institutional investors. The fund will target 40% to 60% of investments in Latin America, 30% to 50% in Asia, and 10% to 20% in Africa.
IFC’s investment will be split between up to $95 million in the Blended Fund and up to $35 million in the mezzanine tranche of the Junior Fund.
The fund is expected to invest in up to 20 projects.
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