$300 Million to Fund Manager for IPEF

The US International Development Finance Corporation (DFC) has approved a $300 million financing package for "sustainable infrastructure" projects in nations participating in the Indo-Pacific Economic Framework for Prosperity (IPEF).

The sum will seed a $1.2 billion private equity fund managed by I Squared Capital, a Miami-based global infrastructure investment manager.

This move comes amid the ongoing negotiations of the IPEF Clean Economy Agreement, indicating the intent of the US and the IPEF partners to hasten outcomes regarding a clean and fair economy.

The funding will be used for a range of projects that aim to mitigate climate change and adapt to its effects, focusing on areas like renewable energy, smart-grid capabilities, and power storage.

For every dollar of DFC financing, I Squared Capital pledged to raise an additional $3 from other institutional investors.