Climate Innovation and Development Fund (CIDF)

The Climate Innovation and Development Fund (CIDF) is a $25 million, ADB-managed concessional financing fund established with grant commitments from Bloomberg Philanthropies and Goldman Sachs. The purpose of the fund is to support sustainable, low-carbon economic development in developing countries in South and Southeast Asia by accelerating the pace, scale, and ambition of climate solutions, thereby contributing to the clean energy transition. CIDF has been designed to support climate mitigation and adaptation projects in India and Viet Nam. ADB will deploy funds as grants into its non-sovereign operations to support innovative and high-impact climate projects. By offering concessional finance to de-risk projects, the fund aims to leverage up to $500 million in additional financing for private sector innovation in areas such as conventional and non-conventional renewable power generation, sustainable transport, climate-smart urban solutions, grid optimization technology, agriculture and land use, and green manufacturing and construction. ADB will select project types and financing models that are replicable and have a high potential to scale up in the broader market once initial successful transactions are demonstrated. See how the fund is implemented.