Amber Dragon Ukraine Infrastructure Fund I
Introduction
Swedfund invests EUR 20 million in Amber Dragon Ukraine Infrastructure Fund I to support Ukraine’s recovery and strengthen energy security. The investment targets renewable energy, logistics and digital infrastructure, critical services for economic activity, public services, and daily life in a country deeply affected by war.
Ukraine’s infrastructure has been severely damaged, limiting access to reliable energy, transport and digital connectivity. These services form the backbone of jobs, businesses, and essential societal needs. By contributing to the reconstruction and modernisation of critical infrastructure, Swedfund aims to strengthen economic resilience, enable private sector activity and support long-term recovery.
Read more in our press release: Swedfund invests EUR 20 million in critical infrastructure to support Ukraine’s recovery and energy security
Facts
SDG in focus
Decent Work and Economic Growth
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
No Poverty
End poverty in all its forms everywhere.
Reduced Inequalities
Reduce inequality within and among countries.
Climate Action
Take urgent action to combat climate change and its impacts.
Sector
Energy & Climate
Within the Energy & Climate sector, Swedfund only invests in renewable energy sources. The expansion of sustainable energy supplies requires a broad approach and innovative solutions.
Value creation
Impact
The investment supports the construction and rebuilding of essential societal infrastructure in Ukraine, including electricity, digital infrastructure, transport and logistics. It aims to strengthen the country’s resilience during the war and contribute to recovery, while supporting job creation, income generation and climate action through renewable energy investments.
Additionality
The investment in the first close supports the Fund Manager’s fundraising and helps mobilise additional capital. It is value additional through active ownership, promoting more sustainable business practices and contributing to development goals related to climate and economic growth.
ESG
Requirements
In line with Swedfund’s Policy for Sustainable Development, the portfolio company is required to materially comply with, inter alia: (i) all internationally recognised human rights (ii) the EDFI harmonized exclusion list and EDFI Fossil Fuel Exclusion List, (iii) local environmental, health & safety and labour laws and regulations, (iv) applicable IFC Performance Standards, (v) the ILO’s Declaration on Fundamental Principles and Rights at Work and the ILO’s Basic Terms and Conditions of Employment.
ESG Risk
E&S risk categorisation is High Risk/Impact (FI‑A), based on significant environmental and social risks inherent in high‑risk sectors and the project pipeline, including risks related to working conditions, occupational health and safety, environment, biodiversity and supply chains, as well as elevated contextual risks due to the ongoing conflict.
ESG Mitigation Measures
Swedfund supports the Fund Manager in further developing its environmental and social management systems (ESMS), strengthening sustainability processes, human rights assessments and E&S capacity, and in developing the business integrity management system.
Applicable IFC Performance Standards
IFC Performance Standards (PS) 1–6 are applicable.
Whistleblowing channels and Grievance Mechanism
Swedfund’s whistleblowing services can be used by employees, contractors and others at Swedfund, and by the companies and funds in which Swedfund invests. The complaints mechanism can be used for all types of complaints concerning Swedfund and Swedfund’s portfolio companies, but not for complaints concerning individuals as a result of restrictions arising from data protection legislation. 🔹 Link in website footer.
Other investments within
Energy & Climate