Emerging Market Climate Action Fund (EMCAF)

This fund-of-funds supports fund managers in commercially viable climate mitigation and adaptation projects in emerging and developing countries. Allianz Global Investments (AGI) acts as EMCAF's fund manager and the European Investment Bank as advisor to AGI. The fund will focus on investment in renewable energy and energy efficiency sector followed by investments in sustainable transport, forestry, rehabilitation/restoration of degraded land, water supply, wastewater and circular economy. The opportunities in these sectors will be "Greenfield Investments", which means capital investments in construction or development stage infrastructure assets that are not yet operational. The fund will not invest in stand-alone infrastructure assets. All investments will either be channeled as indirect investment via a fund, platform vehicle or as a co-investment.

Project data

IKI funding
25,000,000.00 €
Duration
10/2021 till 12/2038
Status
open
Implementing organisation
KfW Entwicklungsbank

State of implementation/results

  • In light of the need to increase the mobilization of private finance, Germany is supporting the Emerging Market Climate Action Fund (EMCAF) with 25 Mio. EUR and has announced at the G7 summit that it plans to further commit 30 Mio. EUR. EMCAF is a fund-of-funds structured to support fund managers in commercially viable climate mitigation and adaptation projects in emerging and developing countries. EMCAF mobilizes via a blended finance model significant private capital by lowering risks for private investors for investments in areas with higher risks. Allianz Global Investments (AGI) acts as EMCAF's fund manager and the European Investment Bank as advisor to AGI. EMCAF focuses on investment in renewable energy and energy efficiency but also includes sustainable transport, forestry, rehabilitation/restoration of degraded land, water supply, wastewater and circular economy. The fund solely focuses on greenfield Investments.

Latest Update:
12/2022

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