London / Amsterdam. March 2nd, 2026 — British International Investment (BII), the UK’s development finance institution and impact investor, and ILX, the Amsterdam-based emerging market private debt asset manager, have completed their first joint transaction to expand financing for micro, small and medium-sized enterprises (MSMEs) and agricultural businesses in East Africa.
The USD 15 million transaction marks ILX’s first sub‑participation in a BII investment, since the two institutions formalised their partnership to increase institutional capital flowing into high-impact opportunities in emerging markets.
This investment will support an East African financial institution to scale its lending to MSMEs and agribusinesses, two key pillars that support inclusive economic growth in the region. This will address the challenge of limited long-term commercial financing available in the sector.
Through the collaboration, BII and ILX expect to co‑finance up to USD 500 million of debt transactions, supporting long‑term sustainable development across markets in Africa, Asia, and the Caribbean. Today’s announcement under this partnership highlights its potential to mobilise further capital at scale.
The transaction underscores BII’s continued commitment to crowding in commercial capital alongside its own and highlights the efficiency of ILX’s strategy of co-financing with MDBs and DFIs to provide institutional investors with access to high-quality, impact-focused private credit opportunities.
Manfred Schepers, CEO of ILX, said:
“Completing our first transaction with BII demonstrates the scalability and strength of the Development Finance Private Debt asset class. BII’s longstanding expertise, resources and approach to originating high-quality opportunities provide pension funds with the confidence to invest in impactful, well-structured investments across emerging markets.”
Holger Rothenbusch, Managing Director and Head of Infrastructure and Climate at BII, said:
“Completing our first transaction with ILX under this partnership demonstrates how BII can originate high‑quality opportunities that attract institutional investment into the sectors that matter most for inclusive and sustainable growth in our markets. By working together, we are creating a pathway to increasing capital availability to our markets that can deliver development impact at scale.”
About ILX
ILX is an Amsterdam-based private debt manager specialising in global development finance investment strategies. It primarily focuses on UN Sustainable Development Goals (SDGs) and climate finance in emerging markets, and it is driven by a diversified, long-term, and impactful investment approach. This approach is underpinned by strong partnerships with global Multilateral Development Banks (MDBs) and Development Finance Institutions (DFIs) and centres around B-loan participations in SDG-aligned investments, particularly within the realm of climate finance. ILX Fund I was launched in 2022 with incubation support from the German, Dutch, and UK governments and with cornerstone commitments from Dutch pension fund managers APG on behalf of ABP and bpfBOUW and Achmea Investment Management on behalf of Pensioenfonds Vervoer. ILX Fund II was launched in 2024 with commitments from Danish pension providers Sampension and Akademiker. For more information here: ILX Fund – SDG-Focused Emerging Market Private Debt
About British International Investment
British International Investment is the UK’s development finance institution and impact investor. The organisation invests in businesses in developing countries to improve people’s lives and help protect the planet. BII’s work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good.
Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development. The company has investments in over 1,600 businesses across 66 countries and total net assets of £9.87 billion. For more information, visit: www.bii.co.uk | watch here. Follow British International Investment on LinkedIn, Bluesky and X.
Media contact
Sofia Vega, Head of Communications, s.vega@ilxfund.com
Nia Tam, Corporate Communications Associate, press@bii.co.uk