IFC to invest 15 mn euros in an environment-focused equity fund

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New Delhi, Jan 8: World Bank Group member International Finance Corporation (IFC) today said it will invest upto 15 million euros in a third-party environment-focused private equity fund for combating climate change.

The fund managed by Aloe Private Equity, will use IFC's funding 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, an IFC statement said.

''Through this environment and sustainability-focused fund we aim to offer economic, environmental, and social returns to our investors,'' Aloe Private Equity General Partner Jean-Pascal Tranie said.

Aloe Private Equity, which manages a number of environment funds, recently raised over 110 million euros for the Aloe Environment Fund two, which it will invest in Asian and European companies.

The fund in which IFC will participate will be co-invested alongside Aloe two, but will support companies primarily in India and China, the statement said.

Aloe Private Equity, a French management company, has a track record in the environment sector and is a pioneer in social and environmental corporate responsibility.

UNI

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