Australian Climate Finance Partnership
The Australian Climate Finance Partnership (ACFP) is a concessional financing facility managed by ADB and funded by the Australian Department of Foreign Affairs and Trade through a grant contribution of up to $93 million. The ACFP is designed to catalyze financing for private sector climate adaptation and mitigation projects in eligible countries in the Pacific and Southeast Asia. ACFP projects promote recovery from the COVID-19 pandemic, as well as gender equality and better economic opportunities for women and girls. It responds to market gaps and demand by de-risking and bringing to market high demonstration impact projects. The fund also aims to partially offset the incremental costs associated with climate-proofing infrastructure and agricultural systems in vulnerable countries and regions, particularly in the Pacific. It seeks to support a range of private sector financing modalities, including project finance, corporate finance, public–private partnerships, joint ventures, privatizations, trade finance, and supply chain finance.
News
24 Oct 2022
ADB Leads $135 Million Climate Financing Package to Support Electric Mobility in Viet Nam
ADB mobilized a $135 million financing package for VinFast Trading and Production Joint Stock Company (VinFast) to manufacture Viet Nam’s first fully electric public transport bus fleet and national electric vehicle charging network. The assistance will support Viet Nam’s efforts to achieve net-zero greenhouse gas emissions and expand high-tech manufacturing industries.
3 Mar 2022
ADB Invests in Tropical Asia Forest Fund 2 to Promote Sustainable Forestry, Enhance Biodiversity
ADB signed a $15 million equity investment in New Forest’s Tropical Asia Forest Fund 2 L.P. to support sustainable forestry practices and reduce logging in natural tropical forests in Southeast Asia. The investment comprises $5 million from ADB and $10 million from the Australian Climate Finance Partnership.