Germany to give USD 100m for green energy in developing countries
(ADPnews) - Jun 30, 2010 - The German Environment Ministry and state-owned development bank KfW have recently set up a global climate protection fund of USD 100 million (EUR 80.9m) for developing countries.
The fund will provide financing for small and medium-sized enterprises (SMEs) and private households in developing countries which invest in power efficiency and renewable energy.
The participation of private investors should boost the fund's volume to USD 500 million in the next few years.
According to the German Environment Minister Norbert Roettgen, by providing equity capital and taking over part of the economic risks, the Environment Ministry is encouraging private investors to put money in the project.