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Friday, 05 April 2019 13:00

New facility to mobilize $1bn for ASEAN green infrastructure

New facility to mobilize $1bn for ASEAN green infrastructure

Southeast Asian governments, the Asian Development Bank (ADB), and major development financiers have launched the “ASEAN Catalytic Green Finance Facility”, a new initiative to spur more than $1 billion in green infrastructure investments across Southeast Asia, Caspian Energy News (www.caspianenergy.net) reports with reference to the press statement of the Asian Development Bank.

The new facility provides loans and necessary technical assistance for sovereign green infrastructure projects such as sustainable transport, clean energy, and resilient water systems. It aims to catalyze private capital by mitigating risks through innovative finance structures. The facility will mobilize a total of $1 billion including $75 million from the ASEAN Infrastructure Fund (AIF), $300 million from ADB, €300 million ($336 million) from KfW, €150 million from the European Investment Bank, and €150 million from Agence Française de Développement.

The facility is part of a new “Green and Inclusive Infrastructure Window” under the AIF, a regional financing initiative established by ASEAN governments and ADB in 2011 and administered by ADB. Since its establishment, the AIF has committed $520 million for energy, transport, water, and urban infrastructure projects across the region.

More details:

https://www.adb.org/news/new-facility-mobilize-1-billion-asean-green-infrastructure

Person in charge of the newsline: Olga Nagiyeva 

 

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