A B-loan Fund for European Institutional Investors
- ILX intends to participate in syndicated loans originated by development banks
- Cardano Development has received committed development capital of EUR 2 million to finance the establishment effort, and aims to achieve first close by Q1 2019. It is being developed by a dedicated team of 5 professionals in Amsterdam
- Preliminary discussions are ongoing with a select number of Dutch pension funds with a view to achieve a first close of at least USD 500 million
- Preliminary discussions are ongoing with target partner development banks to assess market potential
The Impact Loan eXchange (ILX) aims to become an innovative impact investment platform through which leading institutional investors, such as European pension funds, can co-invest with the global development banks such as EBRD and IFC in sustainable long-term loans in developing countries.
The recently agreed UN Sustainable Development Goals (SDGs) identify the need of USD 3 trillion additional annual funding for emerging market and developing countries (EMDEs). There is a well-recognized need to mobilise long-term private sector capital to provide finance to companies in developing countries. Introducing non-bank, institutional lending capacity to development finance, leveraging current development finance infrastructure will be able to unlock significant additional investment capacity. This serves the direct need for growth in the supply of capital as identified in the SDGs.