British International Investment (BII) has officially opened a call for asset managers to submit proposals to partner with the development finance institution to funnel private investment into climate-related projects in emerging economies.
Last year the UK prime minister announced that BII would manage a new £100m mobilisation facility to boost the flow of private capital into emerging markets that are considered too risky by global investors.
Up to £50m of the facility has been ring-fenced for concessional capital for asset manager proposals with a strong potential for accelerating private investment and which demonstrate large-scale climate impact.
There will also be the opportunity to access non-concessional investment funding from BII, which has investments in over 1,580 businesses across 65 countries and total net assets of £8.5bn.
BII is partnering with Mercer on the call for proposals. BII previously said a panel of experts would identify up to three proposals to go through BII’s investment committee process for funding consideration from this year onwards.
The…
