50800 - Infrastructure Resilience Development Fund

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Summary of Investment Information

Project Number

50800

Company Name

Infrastructure Resilience Development Fund

Date SPI Disclosed

Mar 26, 2026

Country

World Region

Region

Global

Projected Board Date

Jun 27, 2025

Environmental Category

FI-2 - Limited

Status

Pending Disbursement

Last Updated Date

Mar 27, 2026

Department

WBG Prosperity

Industry

Funds

Previous Events

Approved : Jun 27, 2025
Signed : Oct 15, 2025

Sector

Other Non-Private Equity Fund

Project Description

The proposed investment is an IFC commitment of up to US$130 million, not to exceed 20% of total fund commitments, in the Infrastructure Resilience Development Fund (IRDF or the Fund), a global closed-end private infrastructure debt fund. The Fund aims to enhance system-wide community resilience in emerging markets by investing in U.S. dollar-denominated senior and mezzanine infrastructure debt instruments. It will be managed by BlackRock Financial Management, Inc. (BlackRock or the Fund Manager) one of the world’s leading providers of investment, advisory, and risk management solutions. The Fund 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 (i) up to US$95 million in the Blended Fund and (ii) up to US$35 million in the mezzanine tranche of the Junior Fund.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	35.0
Equity	95.0

Development Impact

Stakeholder Effects: (i) Increased Access to Climate Finance: Emerging Markets (EMs) in Asia and Latin America face significant infrastructure and climate financing gaps—estimated at 5% of GDP annually in Asia and 3% in LAC. The Fund aims to accelerate access to climate finance by targeting renewable energy and low-carbon infrastructure, supporting countries in their transition away from thermal power, improving energy security, and reducing emissions. The Fund will help EMs scale renewable energy and energy-efficient technologies, ultimately contributing to GHG reductions. (ii) Competitiveness – Financial Integration: The Project aims to boost competitiveness in infrastructure and climate finance across EMs by integrating EM infrastructure debt into institutional investor portfolios. By showcasing high-quality infrastructure projects with competitive risk/return profiles, the Fund seeks to demonstrate that EM infrastructure can be a viable and attractive asset class for institutional investors. This could catalyze private capital mobilization, especially for greenfield and brownfield projects, and strengthen the role of infrastructure in achieving SDG targets.

IFC's additionality in the Project is both financial and non-financial. Financial additionality stems from IFC’s mezzanine investment on commercial terms, which enhances the Fund’s risk profile, reduces the need for concessional capital, and supports mobilization of senior institutional investors. IFC’s provision of long-term financing also addresses a gap in the market. Non-financial additionality includes catalyzing participation from new investor types, such as insurance companies, by boosting market confidence and improving the Fund’s risk-return proposition.

Indicator	Metrics	Comments
GHG Emissions Reduction/Avoidance per year	ton CO2e per year

E&S Category Rationale / Risks and Mitigation

The Project will support BlackRock's Infrastructure Resilience Development Fund (IRDF or Fund), a structured debt fund aiming to invest in infrastructure assets across Latin America, Asia and Africa. The Fund will focus on infra sub-sectors such as logistic and transport, power and energy, digital infrastructure and social infrastructure, which are considered to entail medium to high E&S risks. The client will be required to screen out sub-projects involved in higher E&S risk activities and financial intermediaries financing higher E&S risk activities. The Project will not support coal-related activities, or sub-projects in the oil & gas sectors. ln addition, the Fund will be required to screen and assess all sub-projects against the IFC Exclusion List, applicable host country E&S laws and the IFC's Performance Standards (PS).

IFC will periodically disclose the names, locations and sectors for Category A sub-projects that have been supported by IFC investments through financial intermediaries, subject to regulatory constraints and market sensitivities. The sub-project(s) listed below reflect(s) the status of the portfolio as of July 1, 2020.

IFC will periodically disclose the names, locations, and sectors for qualifying sub-projects that have been supported by this IFC investment through financial intermediaries, subject to regulatory constraints and market sensitivities. Any qualifying sub-project(s) will be disclosed during the annual reporting cycle established with the client.

The E&S risks and impacts related to the Fund originate from the activities of its sub projects and their ability to manage these risks, as well as from the Fund Manager's capacity to (i) identify E&S risks upfront and screen out transactions involving higher E&S risk activities; (ii) conduct E&S due diligence aligned with the IFC PS; (iii) cascade applicable E&S requirements to sub-projects; and (iv) monitor sub-projects' E&S performance. To manage such risks, BlackRock relies on its existing ESG investment policies, as well as on a fund-level customized Environmental and Social Management System (ESMS). The IRDF ESMS is integrated with the investment process and entails three key steps: (i) upfront E&S exclusions; (ii) E&S screening against an extensive proprietary ESG matrix questionnaire; and (iii) cascading E&S representations through legally binding contracts.

The Fund Manager has in-house ESG professionals trained to apply the existing ESG matrix as well as to assess and monitor impact-related KPIs. BlackRock has in place an external communication mechanism for receiving and addressing feedback from third party concerns including sub-projects workers and affected communities.

As part of the Project, BlackRock will be required to enhance the IRDF ESMS to screen out sub-project exposed to higher E&S risk activities and incorporate additional PS-related screenings prior to commitment.

Contacts

For Inquiries About the Project, Contact

BlackRock - Global Infrastructure Partners
Matt Kaczmarek
Managing Director
+13104998999
matt.kaczmarek@blackrock.com
2951 28th Street Suite 1000 Santa Monica, CA 90405
https://www.global-infra.com/contact-us/

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IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

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CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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