ACMFN project launched in China

ACMFN ChinaThe China Electronic Energy-Saving Technology Association (CEESTA) and the Institute of Environment and Development (IED) organized the launching of the Asian Cleantech MSME Financing Network (ACMFN) project on March 22, 2016 in Beijing, China. The event was attended by fifty (50) delegates including representatives from the Ministry of Industry and Information Technology (MIIT) of China, SMEs, international organizations, large corporations and various media outfits.

The ACMFN is a four-year project funded by the European Union (EU) Switch Asia Programme. The project’s implementing partner-organizations are Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) as the lead agency, CEESTA & IED of China, Adelphi of Germany, the Confederation of Indian Industry (CII) and PUPUK of Indonesia.

The ACMFN aims to build and leverage a cleantech financing eco-system to spark improved access to finance for Asian cleantech MSMEs in order to enhance sustainable consumption and production patterns in Asia. Cleantech refers to products, services and processes that reduce or eliminate negative ecological inputs, improve the productive and responsible use of natural resources and provide superior performance at lower cost. MSMEs, considered to be the major drivers of worldwide economies, are being tapped to benefit from the project. The ACMFN will fund the capacity-building for about 400 MSMEs in order that they would have better chances to access financing for their projects. Workshops, advisory services and mentoring, among other activities, will be conducted, including national forums for matchmaking process between MSMEs and financial Institutions as well as training manuals and toolkits. Around 200 MSMEs are expected to have improved processes or created innovations within the project timeline.

The Director of IED, Mr. Walter Ge, introduced the ACMFN project during the launching and announced the establishment of ACMFN office as well as the process of implementation of the project in China. Other speakers during the event were representatives from the MIIT, CEESTA, EU and guests from financial institutions.

The ACMFN project comes at a time when China spares no efforts in promoting green production and green financing which will help explore feasible solutions to the cleantech MSMEs traditionally-neglected by financial institutions.