Wednesday, April 13, 2016
IDB to Double Climate Related Projects
As reviewed in an October, 2015 press release, starting in 2018 the bank will begin screening projects for climate risks and resilience. This will ensure that money invested goes towards environmentally sustainable projects and achieves the stated goal of helping these countries to meet their INDC targets.
The IDB is working with private sector finance to provide financing for adaptation and resilience. As a newly consolidated entity the IDB will offer innovative financial products, such as green bonds.
Historically the IDB has devoted 14 percent of its financing to climate related projects between 2012 and 2014.
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The Green Climate Fund Comes of Age
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A World Bank Action Plan to Combat Climate Change
European Commissioner for Climate Action Urges Development Banks to Divest from Fossil Fuels
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