News & Analysis

In brief: EIB commits €10m to water fund

The fund, managed by Incofin, is seeking up to $70m to invest in sub-Saharan Africa and South and Southeast Asia.

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EIB Global, a unit of the European Investment Bank, has committed €10 million to the Water Access Acceleration Fund (W2AF). Managed by Belgian impact investment firm Incofin, W2AF is a blended finance impact fund targeting “sustainable and scalable solutions that improve access to safe, affordable drinking water for underserved populations, mainly in sub-Saharan Africa and South and Southeast Asia”, according to an EIB press release.

The commitment is the first from the Water Sector Fund, a partnership between the Dutch Government and EIB.

Incofin’s W2AF was launched in early 2023 and held a first close in the same year on $52 million, according to the firm’s annual impact report. It has a target size of €70 million.