BII commits €20m to Meridiam fund

British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, today announced a €20 million commitment to The Urban Resilience Fund (TURF), launched by Meridiam.

Meridiam is an infrastructure specialist with global expertise in developing, financing, and long-term management of public infrastructure in Africa. Through the fund, it will target infrastructure investments aligned with sustainability goals, such as energy efficiency and carbon capture.

The fund will invest in:

– Urban mobility such as bus rapid transit and modern cable cars.

– Energy transition including micro grids management.

– Built community environments such as innovative smart city solutions, street lighting, and electric vehicle charging.

– Waste management systems.

BII has been an active partner to Meridiam over the years having also invested in its previous two funds – MIAF I and MIAF II – which backed major greenfield and brownfield infrastructure projects.

Holger Rothenbusch, head of infrastructure and climate at BII said, “We are delighted to be an anchor investor in Meridiam’s latest fund and will be supporting Meridiam in its efforts to reach its first close. The fund will deliver clear benefits to local communities at a time when there has never been a more urgent need to invest in sustainable infrastructure to increase climate resilience. This fund is a ‘first-of-its-kind’ in the market and will contribute to creating progressive solutions that ensure citizens benefit from the rapid urbanisation taking place in African cities.”

Mathieu Peller, partner and deputy CEO at Meridiam, commented, “We are very pleased with the longstanding support from BII across our various African strategies. BII’s investment in TURF is a key milestone in our partnership to deliver sustainable and impactful infrastructure projects which are needed by cities throughout the continent. TURF will be essential in addressing the multiple resilience challenges faced by cities, such as climate change, sustainable resource management and social inclusion.”