Electrifying Public Transit

44x fund’s investment capital mobilized in Vietnam for Vinfast project

The needed cumulative investment for decarbonization in Asia is estimated at $66 trillion. To help address this investment gap, in 2021 Goldman Sachs helped seed and launch the Climate Innovation and Development Fund, a blended finance facility to help catalyze action and investment in South and Southeast Asia. Managed by the Asian Development Banks (ADB), the fund is focused on where the need is great, but the returns required by private capital alone have rendered much-needed projects uninvestable. In 2022, the fund invested in its initial projects, which are designed to help transform, through electrification, bus systems in India and Vietnam.