ADB pledges $50m fund to support APAC energy transition

The fund will be allotted to renewable energy and other clean energy technologies.

The Asian Development Bank (ADB) committed $50m to Actis Asia Climate Transition Fund to help accelerate the clean energy transition in Asia Pacific.

In a statement, the ADB said the fund will be used for renewable energy, energy solutions and sustainable transportation firms, with an investment size ranging from $50m to $200m per company, contributing to the reduction of emissions.

ADB’s investment in the fund will help address these vulnerabilities by advancing efforts to build climate-resilient infrastructure and adopt climate-smart technologies in Asia and the Pacific,” ADB Director General for Private Sector Operations Suzanne Gaboury.

The ADB added that the investment will also adopt a gender lens investing approach to improve gender-inclusive practices amongst investee firms.