Asian Development Bank teams with Japanese banks to invest $1 billion in green energy

In Japan, the Asian Development Bank is teaming with other national banks on a $750 million green energy fund that will go towards projects among a wide variety of renewables including biofuels, primarily in India and China. The fund is expected to eventually grow to $1 billion by May 2016 thanks to participation from regional banks and overseas financial institutions. The investments will take place over five year periods while they will be recuperated in 10 years.