Saturday, September 13, 2014

Multilateral Development Banks agree to reinforce climate lending in advance of UN summit

The world’s six multilateral development banks today reaffirmed their shared commitment to lead by example by continuing to reinforce and further develop climate finance lending through a joint statement issued in advance of the United Nations Secretary-General’s Climate Summit being convened in New York on 23rd September. The African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), and World Bank Group (WBG) together pledged to maintain a strong institutional focus on climate change. This will include leveraging additional private sector investment, continuing to innovate and promote more robust and transparent climate finance tracking and reporting.

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