Asian Development Bank Publications Unit External Relatio

Published purpose

This initiative is the second phase of the Canadian Climate Fund for the Private Sector in Asia. It aims to catalyze greater private sector investment in climate change mitigation and adaption projects in low and lower middle income Asian and Pacific countries and upper middle income small island developing states in the region. The Fund provides concessional financing alongside Asian Development Bank resources, to private sector projects that require more generous terms to be viable. The Fund invests in private sector led activities that support countries’ efforts to pursue a low-carbon and climate-resilient development path for the region. This includes activities related to water supply and management, agriculture and forestry, land use management, natural resource management, resilient infrastructure, coastal protection, disaster risk management, clean and renewable energy, sustainable transport, and waste management. Projects supported by the Fund also contribute to increased gender-responsive economic development in eligible countries, and integrate gender equality outputs. Over the life of the Fund, Canada's contribution is expected to leverage up to two times its amount in private sector investment, help reduce or avoid greenhouse gas emissions of up to 20 million tonnes, and support up to 100,000 beneficiaries to adapt to the effects of climate change.