The Insurance Development Forum (IDF) has reached the first close of its Infrastructure Resilience Development Fund (IRDF), raising $340 million to support resilient infrastructure projects across emerging markets and developing economies (EMDEs).
Managed by Global Infrastructure Partners (GIP), part of BlackRock, the fund was developed from the Infrastructure Resilience Development Blueprint, co-created by IDF members AXA, Convex, Generali, SCOR, Swiss Re, and Zurich. According to the announcement, the IRDF is designed to meet the investment needs of the insurance sector and institutional investors while advancing the IDF’s mission to close natural catastrophe protection gaps and strengthen resilience in vulnerable regions.
Targeting small to mid-sized commercial infrastructure ventures, the IRDF will focus on critical sectors such as clean water, waste management, renewable energy, transportation, healthcare, and digital infrastructure. The fund’s blended pool of senior and mezzanine debt is structured to provide investors with exposure to risk-adjusted returns and steady cash flows, coupled with measurable social and environmental benefits.
The first close features a substantial commitment from the International Finance Corporation (IFC) alongside contributions from IDF member companies involved in the fund’s creation. The IRDF has already approved its first investment and developed a pipeline of additional potential projects. Fundraising efforts are set to continue through 2026.
“Expanding access to reliable infrastructure is one of the most efficient and impactful ways to drive growth and job creation in emerging and developing economies,” said Mohamed Gouled, Vice President of Industries at IFC.
Established in 2016 following the COP21 Paris Climate Summit, the IDF is a public–private partnership uniting the insurance industry, governments, and international organisations to enhance risk understanding and bolster resilience in disaster-prone areas.
