Multilateral lending agency AsianDevelopment Bank, ADB on Monday said it will invest 60 million US dollar in three venture capital funds targeted at companies combating the impact of climate change and promoting clean energy in India and China. The Director General of the ADB's private sector operations department, Philip Erquiaga, said in a release that investing in these venture capital funds will help channel finance into innovative and affordable technologies that tackle the challenge of climate change in ways that are suited to developing Asia. The ADB is injecting 20 million US dollar each into the three funds which are Aloe Environment Fund III, Keytone Ventures II and VenturEast Life Fund III . The funds will invest in new technology companies involved with climate change mitigation and adaptation or environment protection. ADB is integrating climate change components into its planning and investments in developing Asia.