IFC Press Release
IFC Supports Development of Clean Energy and Environmental Sector in Asia through Private Equity Fund Investment.
Washington DC, January 8, 2008 - IFC, a member of the World Bank Group, announced today it will make its first investment in a third party environment focused private equity fund to help benefit the environment and combat climate change. IFC's investment of up to €15 million will help the fund which is managed by Aloe Private Equity, pursue its strategy to invest in companies in Asia's clean energy and environment sectors.
IFC's funding will be used to invest in companies primarily in India and, when possible, in China, with a focus on clean and renewable energy, waste recycling, emissions controls and eco-processes. Through its involvement in this fund, IFC will provide support to smaller businesses in the clean energy and environment sectors that are unlikely to receive funding from mainstream private equity groups.