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Davos sees birth of $500m Africa, Latam, Asian infrastructure fund

The Climate Finance Partnership was set up from a World Bank idea after it noticed that institutional investors spent almost nothing on infrastructure over a 25 year period in emerging markets. This week at Davos it committed to $500 million of investment in sustainable infrastructure in South East Asia, Latin America and Africa, with at least 25% to be invested in Africa. This effectively brings a carbon neutral counterpoint to the huge sums that China has been investing in Africa, mostly in coal plants. It is described as a blend between philanthropic, government, and private capital to combat climate risk and includes involvement from the French Development Agency, Germany, the Hewlett and Grantham foundations and BlackRock. The investment vehicle’s focus…

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