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
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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
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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
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