(Ecofin Agency) - • European Investment Bank commits $60 million to LeapFrog Investments to expand access to green tech in emerging markets
• The funding targets companies offering eco-friendly solutions in energy, transport, food, and housing
• Move is part of a broader $500 million plan to tackle climate change in Africa and Asia

The European Investment Bank (EIB) has pledged $60 million to LeapFrog Investments to help scale up green technologies across Africa and Asia. The investment aims to bring more eco-friendly tools and services to people in emerging markets, with a focus on energy, transport, food, and housing.

This move is part of a wider push to support businesses that offer practical solutions for reducing carbon emissions and building climate resilience. The goal is to give more households access to sustainable products while also backing the global effort to slow climate change.

LeapFrog’s approach targets the fast-growing middle class in developing countries—roughly four billion people—whose needs are rising alongside concerns over environmental impact. Without proper investment in cleaner alternatives, these markets could drive a surge in emissions that would wipe out progress made in other parts of the world.

A 2023 report from LeapFrog, Temasek, and the Consultative Group to Assist the Poor (CGAP) shows that South Asia, Southeast Asia, and Africa already account for 25% of the world’s greenhouse gas emissions. If no action is taken, that number could hit 73% by 2050.

“The world’s four billion consumers in emerging markets constitute half of humanity – they have every right to rise but, without green tools and technologies, their total emissions will blow through the world’s carbon budget,” said Dr. Andy Kuper, CEO of LeapFrog Investments.

The EIB investment is part of a $500 million initiative to accelerate climate action in emerging markets. The program brings together global players such as the International Finance Corporation (IFC), Singapore’s Temasek, and Swiss development finance institutions.

This effort aligns with the European Union’s Global Gateway strategy, which aims to boost innovation, sustainable development, and green growth around the world—especially in regions most vulnerable to climate shocks.