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Development Banks Commit $61Bn to Climate Finance in 2019 (Int'l.)
Climate Change
Date: 2020-08-24
According to the 2019 Joint Report on Multilateral Development Banks' Climate Finance , in 2019 seven of the world's largest multilateral development banks (MDBs) provided $61.6 billion in climate financing, out of which $41.5 billion was offered to low-income and medium-income economies.

Of the total, $46.6 billion was used for climate mitigation and the remaining $14.9 billion was used to help countries build resilience in tackling the impact of global warming.

The seven banks include: African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank Group (IDB Group), World Bank Group (WBG) and the Islamic Development Bank (IsDB).

Download the 2019 Joint Report on Multilateral Development Banks' Climate Finance report HERE. (Source: African Development Bank, Mercom India, Aug., 2020) Contact: African Development Bank, www.afdb.org

More Low-Carbon Energy News Climate Change,  


IDB Supports El Salvador Energy Efficiency Effort (Int'l Funding)
Inter-American Development Bank
Date: 2018-07-30
In San Salvador, the El Salvadoran government reports it will expand the availability of financing for energy efficiency projects to Small and Medium Enterprises (SMEs) with a $20 million loan from the Inter-American Development Bank (IDB). Funds for the loan come from the Green Climate Fund (GCF) and will be executed by Banco de Desarrollo de El Salvador (BANDESAL).

The program, which is reportedly the first line of credit exclusively dedicated to promoting energy efficiency investments, could support 494 SMEs. El Salvador is promoting energy efficiency and supporting renewable energy as a way of implementing a low-carbon economy, reducing the country's dependence on oil derivatives and lowering its greenhouse gas emissions. The IDB financing is for a 20-year term, with a 5.5-year grace period and a 0.75 fixed interest rate. (Source: IDB, PR, 26 July, 2018) Contact: IDB, Juan Pablo Bonilla, Climate Change and Sustainability Sector Manager, Therese Turner-Jones, GM Caribbean Country Department, www.iadb.org

More Low-Carbon Energy News Inter-American Development Bank ,  Energy Efficiency,  


Increased Climate Finance Aids Caribbean Countries (Int'l)
IDB
Date: 2018-06-27
According to the Washington-based Inter-American Development Bank (IDB), a financing increase of more than 20 pct to a seven-year high of $35.2 billion from the previous year by the world's six largest multilateral development banks (MDBs) has boosted projects that help the Caribbean and other developing countries cut emissions and address climate risks.

The MDBs' latest joint report on climate financing said $27.9 billion -- 79 pct of the 2017 total -- was devoted to climate mitigation projects that aim to reduce harmful emissions and slow down global warming. The remaining 21 pct or $7.4 billion of financing for emerging and developing nations was invested in climate adaptation projects. In 2016, total MDB climate financing totaled US$27.4 billion.

The MDBs, which include the African Development Bank , the Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank , the Inter-American Development Bank Group (IDB and IDB Invest) and the World Bank Group (World Bank, IFC and MIGA), account for the vast majority of multilateral development finance. (Source: IDB, Caribbean Life, 23 June, 2018) Contact: IDB, Juan Pablo Bonilla, Climate Change and Sustainability Sector Manager, Therese Turner-Jones, GM Caribbean Country Department, www.iadb.org

More Low-Carbon Energy News IDB,  Climate Change,  Climate Change Mitigation,  Climate Finance,  

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