Financing Access to Clean Power in Sub-Saharan Africa and Asia
responsAbility Launches $200 Million Climate Debt Fund
responsAbility, a leading Swiss impact asset manager, has announced the first close of its new Access to Clean Power Fund with commitments that could go up to US$200 million. The private debt fund addresses the lack of access to clean power globally with a strong focus on sub-Saharan Africa and South and Southeast Asia. It is set up as a blended finance structure offering different risk tranches, and has received commitments from a number of prominent public and private investors. The fund is an initiative launched in partnership with Bank of America and other financial institutions and investors.
“This investment addresses the critical need for access to affordable, clean energy in emerging markets,” said Dan Letendre, managing director in Bank of America’s Environmental, Social and Governance division. “The investment is part of our Blended Finance Catalyst Pool and our broader sustainable finance initiatives, which are helping to advance the United Nations Sustainable Development Goals.”
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