ADB aims for $1b clean energy fund

The Asian Development Bank (ADB) is planning a billion dollar clean energy fund to invest in renewable and clean energy projects in Asia, a bank executive said Thursday.
The ADB has partnered with Britain's Department for International Development and the International Finance Corp. to roll out the new fund, Dow Jones Newswires reported.
"The structure of the fund is still being worked out but we would hope that we can launch it early next year. The size should be at least one billion US dollars," Shin Kim, head of private equity at ADB's private sector operations department, was quoted as saying.