First Regional Clean Development Fund Introduced in Ho Chi Minh City
Posted on July 23, 2010 - Filed Under Marketing | Leave a Comment
Dragon Capital launched the region's first fund targeting development using clean technology for the Mekong region in Ho Chi Minh City on Tuesday.
The Mekong Brahmaputra Clean Development Fund will finance eco-friendly and sustainable projects affecting Vietnam, Cambodia, Laos, Thailand and the Brahmaputra River Region, that includes Bangladesh, Nepal, and Bhutan.
The fund will ban investment in biofuels, managed forestry as well as untested or experimental clean technology, and renewable energy fueled by natural flora. It will instead focus on sectors that deal with renewable energy, energy efficiency, water and waste treatment following the "Triple Bottom Line" principles of "People, Planet and Profit."
So far, the fund has been able to get commitments worth up to US$45 million during its first fund raising phase from finance institutions like the Asian Development Bank, BIO, Finnfund and FMO.
Dominic Scriven, CEO of Dragon Capital, said the Clean Development Fund "will deliver solid financial returns and positive environmental and social impacts in a set of developing countries in the Mekong and Brahmaputra regions."
Dragon Capital is a Vietnam-dedicated fund manager operating in the country since 1994. The company is 85 percent owned by management and staff with the rest held by the International Finance Corporation and French development finance institution, Proparco.
This article was written for the Asia news site 2point6billion.com, which is published by the Asia business book publishers, AsiaBriefing, who also produce the Vietnam business news site, Vietnam-Briefing.com.
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