Panama, December 23, 2024 – The Corporación Interamericana para el Financiamiento de Infraestructura (CIFI), through its subsidiary CIFI Asset Management Ltd., has successfully completed a second round of capital raising for its Sustainable Infrastructure Debt Fund (SIDF), securing $39.5 million. This new influx of capital positions the fund to reach a total size of $200 million by the first half of 2025, with a balanced allocation between debt and equity.
The contributors to this second closing include the Central American Bank for Economic Integration (CABEI), the Dominican Sustainable Fund I Trust, and Symbiotics, with contributions of $20 million, $18 million, and $1.5 million, respectively. These three entities now join SIDF as partners, alongside Norfund (the Norwegian Investment Fund for Developing Countries), Triodos Bank, MMG Bank, Prival Bond Fund, Prival Bank, and CIFI.
Additional loans from current fund creditors will support the fund’s growth to $200 million. These creditors include the German Investment and Development Corporation (DEG, part of the KfW banking group), Proparco (the private sector arm of the French Development Agency, AFD), the Austrian Development Bank (OeEB), and the Finnish Fund for Industrial Cooperation (Finnfund).
“Our investment in SIDF holds the potential to create tangible synergies by financing projects in collaboration with fund participants, driving development in CABEI member countries. Furthermore, it strengthens private-sector initiatives in public-interest projects while allowing us to engage with an innovative financing instrument,” said Manuel Torres, Country and Project Manager at CABEI.
The SIDF was structured by CIFI in July 2023 to address the critical need for private-sector financing in areas that contribute to sustainable social and economic infrastructure across Latin America and the Caribbean. This initiative aligns with the United Nations’ Sustainable Development Goals (SDGs) and the Paris Agreement.
Projects financed under this mechanism are carefully selected based on sustainability criteria, including environmental, social, institutional, economic, and financial resilience. The fund focuses on impactful infrastructure sectors such as renewable energy, energy efficiency, sustainable tourism, health, education, logistics, and telecommunications.
The SIDF’s current portfolio includes five projects across renewable energy and sustainable logistics sectors. These projects are located in Brazil (Origo and AXS), Chile (OEnergy), Peru (Ventanilla), and the Dominican Republic (Monte Plata). This diversified portfolio offers attractive long-term returns while creating positive impacts in local communities.
Javier Escorriola, Manager at CIFI Asset Management Ltd., highlighted: “The SIDF portfolio will contribute to generating over 1,800 jobs, expanding national energy matrices with a combined capacity of 181.7 megawatts, reducing greenhouse gas emissions by 187,914 tons of CO2e annually, and providing energy to 145,806 people.”
Building on the SIDF’s success, CIFI continues to innovate, demonstrating its commitment to sustainability and economic growth in Latin America and the Caribbean. Through responsible energy and infrastructure investments, CIFI is fostering regional well-being and creating lasting value for its partners.
About the Sustainable Infrastructure Debt Fund (SIDF)
The Sustainable Infrastructure Debt Fund, based in Ontario, Canada, focuses on social and environmental infrastructure projects across Latin America and the Caribbean. Managed by CIFI Asset Management Ltd., the fund is set to achieve a portfolio size of $200 million upon its final closing.
About the Central American Bank for Economic Integration (CABEI)
Established in 1960, serves as a legal entity with international status, aimed at promoting the integration and development of its founding member countries: Guatemala, Honduras, El Salvador, Nicaragua, and Costa Rica. Its headquarters are in Tegucigalpa, Honduras, with regional offices across Central America.
About Dominican Sustainable Fund I Trust
Enables participation in the Dominican Closed-End Investment Fund for Infrastructure Development II as an investor. This fund focuses on infrastructure and energy projects in the Dominican Republic and is managed by AFI Universal. It aims to reach a portfolio size of $500 million upon final closing.
About Symbiotics
Is a leading market access platform for impact investments, focusing on private markets in emerging and frontier economies. Since 2005, it has originated over 7,900 investments totaling more than $10 billion for 598 companies in 97 countries. It manages an aggregated portfolio of $2.8 billion across 20 funds and mandates.
About CIFI
Is a non-banking financial institution with over 20 years of experience supporting energy and infrastructure projects that enhance the well-being of communities in Latin America and the Caribbean. CIFI provides advisory services and solutions for structuring, financing, and asset management for private enterprises.
For media inquiries:
CIFI | Juliette Daugan | juliette.daugan@cifi.com
