The Hong Kong Monetary Authority (HKMA) and three multilateral organisations are investing at least USD500m into the Actis Asia Climate Transition Fund to achieve financial returns and social impact in Asia by leveraging private sector participation. The strategic partnership includes the Asian Development Bank, the Asian Infrastructure Investment Bank, and the International Finance Corporation, a member of the World Bank Group. Managed by Actis GP LLP, a private institution in sustainable infrastructure that has raised USD25bn since 2004, the fund's portfolio covers renewable energy infrastructure, energy efficiency, smart grids, district energy, and sustainable transport. Officials stated that the collaboration demonstrates the feasibility of combining financial returns with sustainable development.