Title: Innovative Finance Facility for Climate Action in Asia and the Pacific: A Key Step Towards Accelerated Climate Action

The Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP) is a new financing partnership facility aimed at accelerating action against climate change in the region. The IF-CAP is a multi-donor facility that provides guarantees for parts of the Asian Development Bank’s (ADB) sovereign loan portfolios. This will enable the bank to free up capital and increase lending for climate investments, aligned with the Paris Agreement and other key ADB policies, including the forthcoming Climate Change Action Plan. Climate change is one of the most significant challenges facing the world today, and the Asia-Pacific region is uniquely vulnerable