News
17 February 2020
EIB invests in Catalytic Green Finance Facility
In:
Renewable energy, Traditional energy
Region:
Asia-Pacific
The European Investment Bank will invest €150 million in the Catalytic Green Finance Facility (ACGF), established by Association of Southeast Asian Nations.
The funds will accelerate the development of green infrastructure projects and crowd-in much needed private investments in the sector. Other contributions to €1.2 billion strong ACGF include Asian Development Bank, Agence Française de Développement, German development bank KfW and the Government of South Korea.
Currently, ASEAN countries attract only 40 out of $200 billion required each year for green infrastructure finances, with only 25% of financing from the private sector, mostly as commercial loans, says the EIB.
