Germany has launched a 'climate protection' fund to help local banks invest in energy efficiency and renewables for small businesses and households in developing countries, seeding it with more than $100 million.

Germany’s Federal Ministry of the Environmental (BMU) and state-owned development bank KfW have jointly pledged the sum, saying they are expecting to attract further public and private investors to swell the fund to $500 million in the next five years.

“As a result of the