Development Bank of Austria Increases Commitment to Public-Private Climate Partnership
The responsAbility-managed climate fund is a public-private partnership founded in 2009 by the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB) and KfW Entwicklungsbank. It currently manages close to $670 million of committed capital from both public and private investors.
The fund targets to mitigate climate change by financing energy efficiency and renewable energy projects in emerging markets, either directly or via financial institutions. As per year-end 2018, it had investments across 25 emerging countries, providing green credit lines to 35 energy companies and financial institutions, which had used the funding to disburse 74,251 sub-loans for energy projects.