Climate change and cleantech fund from ADB

Posted on May 24, 2011 by


Asian Development Bank (ADB) recently announced that it will invest USD 60 million in three venture capital funds that specifically invest in companies whose areas of work are climate change and promotion of clean energy in India and China .

In a press release, Philip Erquiaga, the Director General of the ADB’s private sector operations said that “Climate change will hit Asia hard in coming decades. Investing in these venture capital funds will help channel finance into innovative and affordable technologies that tackle the challenge of climate change in ways that are suited to developing Asia.”

Within Aloe Environment Fund III, Keytone Ventures II and VenturEast Life Fund III, 60 million dollars will be divided equally. These funds are expected to raise an addition corpus to the tune of USD 600 million to USD 700 million from private sector investment.

 

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Posted in: Renewable Energy