The Asian Development Bank is planning to tap the world’s leading pension funds for an equity investment facility it aims to launch this year.
The facility would invest in clean energy infrastructure projects in Asian countries. It is part of a bigger ADB project designed to mobilize more private resources for clean energy infrastructure initiatives in the region, The Associated Press reports, citing official sources.
ADB will spearhead the fund in cooperation with other multilateral development banks. It is the first investment facility of its kind to mobilize institutional and pension funds for low-carbon technology projects in Asia.
ADB and its partner banks have discussed the fund with the “P8 Group,” which comprises 12 of the largest public pension funds in the world. These funds have combined assets of $3.5 trillion.
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