Multilateral Partnerships are the only way to tackle global challenges, says EU Bank President ahead of annual IMF/World Bank Group meetings
- Major partnership with the Republic of Indonesia to be agreed
- New initiative to clean the oceans and tackle plastic waste
- Supporting climate resilient green infrastructure with fellow Multilateral Development Banks
The European Investment Bank (EIB) will be announcing a number of major initiatives with its partners on the margins of the IMF/ World Bank Group annual meetings, taking place in Bali Nusa Dua, Indonesia this week.
The EU bank will be meeting regional partners from across the globe, as well as the world’s Multilateral Development Banks and fellow International Financial Institutions. Together, they will stress the need to cooperate and crowd-in private investors to address today’s challenges such as mitigating and adapting to climate change, building resilient cities and regions, supporting green infrastructure and protecting our natural capital such as oceans.
Ahead of the IMF/World Bank Group annual meetings, EIB President Werner Hoyer said: “Working in partnership is more important than ever, because none of us is equipped to deal with the scale of the global challenges facing us today. Take climate change: its effects are increasing both in frequency and intensity, and pressure on our environment and natural resources is growing. Take also the terrible, ongoing disaster on Indonesia’s Sulawesi Island: another kind of wake-up call for all of us to support the building of more resilient societies. Multilateral financial institutions like the EIB have a vital role to play to help channel private capital towards the energy transition and sustainability objectives that are needed to reach the Paris Agreement and the Sustainable Development Goals. Crucially all the initiatives that the EIB will highlight at the IMF/World Bank Group meetings are the result of multilateral action and strong collaboration with public and private sector partners.”
During the meetings, the EIB will announce strengthened collaboration to support green infrastructure with the Republic of Indonesia, a new initiative to clean the oceans with KfW Group on behalf of the German Federal Government, and the Agence Française de Développement (AFD), as well as continued support to green infrastructure with other multilateral banks at the Global Infrastructure Forum.
The new initiative to tackle oceans pollution will be announced in Bali at the KfW Group reception on Sunday October 14th at 13:00. Journalists are welcome and should confirm their presence to the contact below. (see invitation attached)
EIB senior representatives available for interview in Bali
- Werner Hoyer, EIB President
- Marjut Santoni, EIB Secretary General
- Ambroise Fayolle, EIB Vice-President
- Emma Navarro, EIB Vice-President
- Maria Shaw Barragan, EIB Director of Global Partners Department
- Eila Kreivi, EIB Head of Capital Markets
- Debora Revoltella, EIB Chief Economist
- Luca Lazzaroli, EIB Deputy Head of Operations