Finland invests in climate action and gender equality through the Asian Development Bank
Finland will invest EUR 20 million in the Asian Development Bank’s (ADB) Ventures Investment Fund 1. The investment will be made from the appropriation for development policy investments.
ADB Ventures Investment Fund 1 will focus on technology-driven startups, which offer solutions to fighting climate change and promoting gender equality. In addition to Finland, the Nordic Development Fund (NDF), the multilateral Clean Technology Fund and South Korean Ministry of Economy and Finance have invested in the Fund.
”ADB Ventures underlines Finland's longstanding support for clean technology investments in emerging markets. It provides a new mechanism to leverage best-in-class clean technologies for climate and gender impact. Finland and the NDF will contribute a strong Nordic dimension to the ADB Ventures Investment Fund, and many of its technology solutions are of Nordic origin,” Minister for Development Cooperation and Foreign Trade Ville Skinnari says.
The Fund’s mandate covers 17 years. It will invest in companies operating in cleantech, agricultural technology, fintech, and health technology solutions. The return on investments will reflow to Finland before the Investment Fund’s mandate expires.
Inquiries: Kirsi Airio, Special Adviser to the Minister for Development Cooperation and Foreign Trade, tel. +358 50 574 1729, and Max von Bonsdorff, Director, Unit for Development Finance and Private Sector Cooperation, Department for Development Policy, tel. +358 295 351 720.
The email addresses of the Ministry for Foreign Affairs are in the format [email protected]