December 11, 2015
On December 11, the Japan International Cooperation Agency (JICA) signed an agreement for equity participation in the Asia Climate Partners LP (ACP), a fund jointly managed by Asia Development Bank (ADB), Orix Corporation and Robeco Groep N.V.
ACP is a private equity fund that undertakes commercially-oriented private equity investments across a variety of environmentally supportive, low-carbon transactions throughout developing Asia, and dedicated to investing in renewable energy, clean technology, natural resource efficiency, water, agriculture, forestry and other climate-friendly companies and transactions that are structured to generate market-driven, risk-adjusted returns and have a positive environmental and social impact. JICA will contribute up to USD94.3 million to the fund.
JICA’s participation in the fund is a first concrete transaction under the “Partnership for Quality Infrastructure” policy of the Government of Japan, and falls under the policy’s the second pillar: “Collaboration between Japan and ADB” under This investment will also contribute to the expansion of climate financing to developing countries in line with the outcomes of the 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP 21).
Through this equity investment to the fund, which will be financed from its Private Sector Investment Finance, JICA aims to further mobilize investment from the private sectors into climate financing in developing countries in Asia. JICA will collaborate with not only ADB, ORIX, and Robeco that are managing the fund, but also other investors to the fund such as the Government of the UK, the Bank of Tokyo-Mitsubishi UFJ, Ltd., Sompo Japan Nipponkoa Insurance Inc., and other institutions, thereby contributing to sustainable economic growth and development of the region.
Going forward, JICA will continue to promote “Partnership for Quality Infrastructure” and will continue to support activities to achieve Sustainable Development Goals (SDGs) pledged in the UN General Assembly in September 2015 and to promote climate financing to developing countries in line with the outcomes of the COP21 meeting, through strengthening collaboration with ADB and other multilateral development banks.