AIIB Invests up to USD100 Million in TPG Rise Climate Global South Initiative Fund to Boost Climate Investment in Emerging Markets

The Asian Infrastructure Investment Bank (AIIB) has committed USD50 million to the TPG Rise Climate Global South Initiative Fund, and up to USD50 million in co-investments, to boost climate investment and the development of climate finance markets across AIIB members in Asia, the Middle East and Africa.

The Global South Initiative is a parallel vehicle to the TPG Rise Climate II fund, created in partnership with ALTÉRRA, one of the largest climate investment platforms in the world. It is designed to attract long-term private capital for high-impact climate opportunities in emerging and developing economies.

The fund targets investments in sectors including energy transition, green mobility, sustainable fuels, sustainable materials and products, carbon solutions, and climate adaptation and resilience. It is classified as Article 9 under the EU Sustainable Finance Disclosure Regulation, a designation for financial products with sustainable investment as an objective.

“Mobilizing private capital is one of AIIB’s core thematic priorities and fundamental to closing the climate investment gap in emerging markets,” said Kim-See Lim, AIIB Chief Investment Officer, Public Sector (Region 1) & Financial Institutions and Funds (Global) Clients. “Through this partnership with TPG, AIIB is supporting the expansion of innovative climate solutions in emerging markets, while strengthening climate finance ecosystems across our members, in line with our corporate target to direct 50% of annual financing to private-sector-oriented operations by 2030.”

AIIB’s participation aims to catalyze additional private capital alongside TPG Rise Climate and other co-investors, amplifying the development impact of each dollar committed. It also supports commitments under the Paris Agreement and the United Nations Sustainable Development Goals.