Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

IFC Raises $280 Million With U.K., Azerbaijan for Climate

Jan. 25 (Bloomberg) -- International Finance Corp., a member of the World Bank Group, raised $280 million with the governments of Britain, Canada and Azerbaijan’s sovereign wealth fund for projects related to climate change.

The IFC Catalyst Fund will invest in private equity funds that back companies developing new ways to curb emissions in emerging markets, the Washington-based IFC said today in a statement.

IFC contributed $75 million with Britain putting in $80 million, the U.K. Department of Energy and Climate Change said today in a separate statement. Additional investors and pension funds are expected to participate in further fundraising rounds, according to DECC.

“Addressing climate change is a strategic priority for IFC, and private equity is well suited to jumpstart climate-friendly investment in emerging markets,” Jin-Yong Cai, executive vice president and chief executive officer of IFC, said in the group’s statement.

To contact the reporter on this story: Sally Bakewell in London at sbakewell1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.