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Multilateral development banks hit record $137 billion in climate finance to drive sustainable development worldwide
Global climate finance by multilateral development banks (MDBs) increased 10% last year, reaching a record $137 billion, with the majority directed to low- and middle-income economies. MDBs including the European Investment Bank (EIB) announced the year-on-year increase in a report published today.
Ethiopia: EIB Global partners with banks to unlock climate finance
The European Investment Bank’s development arm, EIB Global, has signed technical assistance agreements with Zemen Bank SC, Dashen Bank SC and Hibret Bank in Ethiopia that will support them in strengthening their ability to identify, assess, and manage climate-related risks, integrating them into their business strategies and daily operations. The banks will be better equipped to assess how climate change could impact their clients and encourage investments that strengthen their resilience against extreme weather events such as floods and droughts. In addition, banks’ capacities are strengthened to analyse impacts of changing international climate policies on businesses and export-dependent industries.
Fresenius receives a €400 million EIB loan to support R&D, innovation and capacity expansion across the EU
Fresenius, a global healthcare company, will receive a new €400 million loan from the European Investment Bank (EIB) to strengthen Fresenius’ European research and development (R&D) activities. The financing will be used to support expansion of Fresenius Kabi's manufacturing of medical products and biosimilars in European countries.