Clean Energy Finance Innovation Programme
As of: October 2021
The project supported selected financial institutions in Asia in developing innovative financial products to finance investment in climate change mitigation, especially in renewable energies and energy efficiency. It concentrated primarily on providing financial support in the preliminary stages of developing financial products. It offered needs-based capacity development programmes, such as training employees in financial institutions in launching and evaluating new financial products. The idea of this was to eliminate existing obstacles to entering this new market, such as risks and information gaps. Financial institutions interested in these programmes could apply to the Climate Finance Innovation Facility and take part in a tendering process. If banks can successfully launch new financial products on the market, other financial institutions might follow suit.
State of implementation/results
- Project completed
- Three tendering processes have been carried out
- Fifteen ongoing funding activities are being carried out with selected financial institutions in the following countries: Philippines, China, India, Cambodia, Tonga, Viet Nam, Nepal, Pakistan, Mongolia, Singapore
- The ongoing funding measures cover a range of activities, including market studies as a preliminary to developing financial products, support for business planning and marketing, as well as training programmes for banks and microfinance institutions on launching and implementing financial products in the field of energy efficiency and renewable energies