The aim is to raise an additional 1 billion crowns in the autumn and to use some of the funds for projects.

Denmark and six pension funds on Thursday launched a 4.1 billion crowns (483.85 million pounds) investment fund aimed at promoting Danish technology and fighting poverty and climate change in developing countries.

The aim is to raise an additional 1 billion crowns in the autumn and to use some of the funds for projects worth 30 billion in total.

The expected annual net yield from the capital fund is 10 to 12 percent over the fund’s expected 11-year duration.

Danish pension funds ATP, PFA, PKA, PensionDanmark, PenSam, JOP/DIP have each invested 400 million crowns in the first closing.

The fund will among other things invest in sustainable energy, agribusiness and infrastructure in Africa, Asia and Latin America and it should contribute to reaching the United Nations’ 17 Sustainable Development Goals set in 2015.