About This Fund
The Meridiam Urban Resilience Fund B (TURF B), formally structured as The Urban Resilience Fund B International Municipal Investment Fund SCSp, is a Luxembourg-domiciled blended finance infrastructure fund dedicated to financing sustainable urban development in rapidly growing cities across Africa and the Middle East. The fund was co-developed by Meridiam and The Rockefeller Foundation, with UNCDF (United Nations Capital Development Fund) serving as a strategic partner.
Operating under a layered capital structure designed to attract catalytic, development finance, and institutional capital, TURF B targets investments in urban mobility, renewable energy infrastructure, smart city systems, and waste management in high-growth cities including Abidjan, Addis Ababa, Amman, Dakar, Kigali, Kumasi, and Mazagan. The fund aims to deploy at least 85 percent of its capital as climate finance, aligning with the Luxembourg-EIB Climate Finance Platform and European development finance objectives.
Confirmed institutional investors include the European Investment Bank (EUR 50 million), British International Investment (EUR 20 million, committed March 2023), and Norfund (NOK 235 million, approximately USD 20.6 million). TURF B is positioned as a vehicle for development finance institutions and institutional investors seeking sustainable infrastructure returns in emerging markets, while addressing critical infrastructure gaps in some of the world's fastest-growing urban environments. Meridiam manages this fund as part of its broader impact and emerging markets infrastructure platform.