EIB commits $60m to LeapFrog Investments
The EIB has committed $60 million to the Climate Investment Strategy of PE firm LeapFrog Investments.
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The European Investment Bank (EIB) has committed $60 million to the Climate Investment Strategy of private equity firm LeapFrog Investments.
LeapFrog aims to deploy $500 million under its Climate Investment Strategy to scale green tools and technologies for consumers in Africa and Asia.
EIB group president Nadia Calviño said: “Today’s announcement is an example of public-private partnership at its best, and a strong statement on Europe’s climate leadership. At the EIB, we are staying the course and consolidating our role as The Climate Bank.”
An initial investment under LeapFrog’s Climate Investment Strategy supported Battery Smart, India’s largest battery-as-a-service provider for two- and three-wheelers, providing riders with low-carbon mobility. Other sectors of interest include rooftop solar and clean cooking.
“The world’s four billion consumers in emerging markets constitute half of humanity – they have every right to rise but, without green tools and technologies, their total emissions will blow through the world’s carbon budget. This is also where the greatest opportunities lie – investing to support a generational transition for the majority of global consumers and producers. We are grateful to have the support of our longstanding partners EIB, IFC and Temasek in achieving this mission,” said Dr Andy Kuper, CEO and founder of LeapFrog Investments.
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