The Asian Development Bank (ADB) has set up an investment fund for clean and renewable energy development in Asia through partnership with the International Finance Corporation (IFC), financing arm of the World Bank.
The fund is scheduled to begin full operation early next year with working capital of at least 1 billion USD, according to the ADB.
It will directly invest in clean and renewable energy projects in both public and private economic areas in Asian countries as well as climate change-related joint stock facilities.
ADB said that it will enter partnership with other partners to continue calling for other capital sources for projects in Asia in order to minimise impacts from climate change and ensure sustainable development in the continent./.
The fund is scheduled to begin full operation early next year with working capital of at least 1 billion USD, according to the ADB.
It will directly invest in clean and renewable energy projects in both public and private economic areas in Asian countries as well as climate change-related joint stock facilities.
ADB said that it will enter partnership with other partners to continue calling for other capital sources for projects in Asia in order to minimise impacts from climate change and ensure sustainable development in the continent./.
