$25 million
Contact ADB for more information.
The Climate Innovation and Development Fund (CIDF) is a $25 million, ADB-managed concessional financing fund established with grant commitments from Bloomberg Philanthropies and Goldman Sachs. The purpose of the fund is to support sustainable, low-carbon economic development in developing countries in South and Southeast Asia by accelerating the pace, scale, and ambition of climate solutions, thereby contributing to the clean energy transition. CIDF has been designed to support climate mitigation and adaptation projects in India and Viet Nam. ADB will deploy funds as grants into its non-sovereign operations to support innovative and high-impact climate projects. By offering concessional finance to de-risk projects, the fund aims to leverage up to $500 million in additional financing for private sector innovation in areas such as conventional and non-conventional renewable power generation, sustainable transport, climate-smart urban solutions, grid optimization technology, agriculture and land use, and green manufacturing and construction. ADB will select project types and financing models that are replicable and have a high potential to scale up in the broader market once initial successful transactions are demonstrated.
Bloomberg Family Foundation Inc., Goldman sachs Charitable Gift Fund
Funding Type
Monitoring and Reporting Procedures
Project implementation, supervision, and monitoring will be conducted by user departments following ADB’s standard policies, procedures, and guidelines.
Eligibility Criteria
Eligible non-sovereign projects in India and Viet Nam will have direct, measurable positive climate-related outcomes (mitigation and/or climate adaptation) that are documented by ADB. The fund will offer grants for high-impact, catalytic projects that demonstrate the need for a portion of concessional financing to reach financial close (i.e., projects that would not proceed solely on a commercial basis).
ADB will utilize the fund’s financing for projects that adhere to principles as agreed by development finance institutions on the use of blended concessional finance for private sector projects. These include: (i) rationale for using blended concessional finance, (ii) crowding-in and minimum concessionality, (iii) commercial sustainability, (iv) reinforcing markets and (v) promoting high standards.
Eligible project types include:
- Climate mitigation: solar, wind, hydro, biomass, and geothermal power, energy efficiency, sustainable transport, transmission and distribution, energy storage, energy management and smart metering, land use, agriculture and forestry, wastewater treatment, solid waste management, and the accelerated retirement of coal fired power plants.
- Climate adaptation: water supply and management, agriculture, forestry, land use and natural resource management, resilient infrastructure and coastal protection, and disaster risk management.
Other project types that demonstrate positive climate outcomes will also be considered.
Eligible Countries
Developing countries in South and Souteast Asia
Understand steps to access
Contact ADB for more information. Please note, funding is only available to pre-selected countries. See the eligible countries field for more information.