World Bank Group’s International Finance Corporation (IFC) is proposing an investment of up to $40 million in structured equity to support the expansion of Metito Utilities Limited, according to a disclosure seen by DevFiNews.
The move underscores a broader shift toward platform-level financing in emerging markets infrastructure.
The investment, structured as convertible redeemable preferred shares, is expected to catalyze up to $60 million in additional capital, with further mobilization anticipated over time, IFC said in a disclosure.
Unlike traditional project finance tied to a single asset, proceeds will be deployed at the corporate level to fund Metito’s portfolio of committed projects, assets under construction, and medium-term pipeline across multiple geographies.
Key assets include wastewater treatment plants in Namangan, Uzbekistan and Zrenjanin, Serbia, alongside water supply projects in Dalian, China and Nabisar, Pakistan, as well as expansion across concession-based water and wastewater platforms in emerging markets.
The transaction highlights a growing preference among development finance institutions for flexible capital structures that enable infrastructure operators to scale across markets, rather than rely on fragmented, project-by-project funding.
Metito operates under public-private partnership and build-own-operate-transfer (BOOT) models, positioning it to benefit from long-term concession revenues while addressing infrastructure gaps in water and sanitation.
IFC’s early involvement in structuring the transaction is aimed at crowding in private capital, reflecting its broader mandate to de-risk investments and mobilize institutional funding into essential infrastructure.
Environmental and social due diligence classified the project as Category B, indicating limited and site-specific risks.
Key considerations include labor management, occupational health and safety, and land acquisition tied to new developments, particularly across markets with varying regulatory environments.
Metito, a repeat IFC client, has previously received satisfactory ratings for environmental, health, and safety performance, supported by established management systems aligned with IFC Performance Standards.
The investment adds to a growing pipeline of platform-focused deals in development finance, as investors seek scalable exposure to infrastructure assets while maintaining risk-adjusted returns through structured instruments.