The Asia-Pacific Climate Finance Fund (ACliFF)
In May 2017, the German Federal Ministry for Economic Cooperation and Development, together with the Asian Development Bank (ADB), launched the Asia-Pacific Climate Finance Fund (ACliFF). ACliFF identifies and pilots innovative, scalable and commercially viable financial risk management products alongside development projects that support climate change mitigation and adaptation in ADB’s developing member countries. The effective use of financial risk management products can increase development impact and scale up climate investment, contributing towards the needs and commitments under the Paris Agreement of developing countries in Asia and the Pacific.
The fund supports innovative approaches, products and services that directly address: i) climate investment risk, including barriers for adopters and financiers, and ii) extreme weather risk, improving resilience and reducing vulnerability to climate impacts, particularly of poor and vulnerable communities.