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IFC, HKMA and Allianz form US$3 billion climate investment platform

By Hui Ching-hoo   
November 8, 2021

International Finance Corporation (IFC), the World Bank’s private sector arm, has teamed up with the Hong Kong Monetary Authority and German insurer Allianz Group to create a US$3 billion climate investment platform.

The platform, MCPP One Planet, combines contributions from the three partners to provide loans that support the goals of the Paris climate accord to private companies in emerging markets.

It marks a further scale-up of the IFC’s Managed Co-Lending Portfolio Programme, a private debt platform launched in 2013 that has raised over $10 billion from 11 investors and provided financing to more than 200 firms across 55 developing countries.

“MCPP One Planet will create the world’s first cross-sectoral portfolio of emerging-market loans aligned with the Paris Agreement. The facility enables institutional investors to directly provide capital for sustainable lending in emerging markets – allowing investors to scale up their exposure to this asset class,” IFC says in a statement on November 4.

It didn’t provide a breakdown of funding from the three partners, and spokespersons for IFC did not immediately respond to questions from Asia Asset Management.

“MCPP One Planet will create a global model for mobilisation of institutional investor financing in support of the climate agenda for the most vulnerable communities on the frontlines of climate changes – in emerging and developing economies,” IFC Managing Director Makhtar Diop says in the statement.