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Canadian Climate Fund for the Private Sector in Asia
What is the fund?
The Canadian Climate Fund for the Private Sector in Asia was established in March 2013. The fund aims to catalyze greater private investment in climate change mitigation and adaptation in Asia and the Pacific. The fund will aim to play a key role in helping to overcome leading edge technology risks and cost hurdles in order to initiate and scale-up projects to reduce greenhouse gas emissions and increase climate resilience. The fund is ADB’s first concessional debt cofinancing facility specifically oriented to support private sector operations to combat climate change.
ADB will manage the fund resources under its Clean Energy Financing Partnership Facility umbrella.
What are the priorities and what kind of activities will be financed from the fund ?
- The fund will provide fund resources - Concessional financing, co-financed with ADB resources, to select private sector projects that do not benefit from a sovereign guarantee and require some financing on concessional terms to be viable or acceptable from a risk-reward perspective. These projects may include but are not limited to: clean energy (including renewable energy, energy efficiency and cleaner fuel) in energy sector and non-energy sector including agriculture, urban infrastructure and sustainable transportation projects.
- The fund will also provide fund resources - Grants to selected private sector projects, or public sector projects that improve the enabling environment for private sector investments, to facilitate deployment of new technologies and support activities that enable policy and institutional reforms, as well as regulatory frameworks to encourage climate change mitigation and adaptation.
Who is eligible to receive the concessional financing or grant?
One or more of the following eligible ADB developing members can avail of the fund: Afghanistan, Armenia, Bangladesh, Bhutan, Cambodia, Cook Islands, Fiji, Georgia, India, Indonesia, Kiribati, Lao PDR, Maldives, Marshall Islands, Federated States of Micronesia, Mongolia, Myanmar, Nauru, Nepal, Pakistan, Palau, Papua New Guinea, Philippines, Samoa, Solomon Islands, Sri Lanka, Tajikistan, Timor-Leste, Tonga, Tuvalu, Uzbekistan, Vanuatu and Viet Nam.
Who supports the fund?
The Government of Canada supports the fund.