ADB green projects gain $300 million

Published onMarch 25, 2021

The Green Climate Fund (GCF) has granted $300 million to the Asian Development Bank (ADB) to assist in creating environmentally friendly infrastructure projects that aim to help economies in the region recover sustainably and create jobs. The ADB said the funds will be utilised by the ASEAN Catalytic Green Finance Facility’s (ACGF) Green Recovery Programme to support green infrastructure projects in ASEAN member nations, specifically in Cambodia, Indonesia, Laos and the Philippines. “The ACGF Green Recovery Programme is designed to kick-start a cycle of low-emission investments during the first years of a COVID-19 recovery,” said ADB Vice-President Ahmed M. Saeed.