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Public development banks launch Clean Oceans Initiative 2.0 after original initiative delivered on its target ahead of time
Building on a shared commitment to marine sustainability, six public development banks today launched the Clean Oceans Initiative 2.0 (COI 2.0), a renewed and expanded partnership dedicated to drastically reducing plastic pollution in the world’s oceans. At the United Nations Ocean Conference in the city of Nice, Agence Française de Développement (AFD), European Investment Bank (EIB), Kreditanstalt für Wiederaufbau (KfW), Cassa Depositi e Prestiti (CDP), and European Bank for Reconstruction and Development (EBRD) together with the Asian Development Bank (ADB), which joins the initiative as a new member, set a financing target of €3 billion for the years 2026 to 2030.
Luxembourg and EIB Global team up to help Small Island Developing States confront climate change
Luxembourg is joining forces with the European Investment Bank’s development arm (EIB Global) to pledge €5 million through the Luxembourg-EIB Climate Finance Platform (LCFP) to help Small Island Development States (SIDS) tackle climate change. The Government of Luxembourg is making the commitment to a new fund dedicated to the sustainable use of ocean resources – an area of activity known as the “blue economy” – and EIB Global is managing the contribution to ensure its optimal use.
European promotional institutions and EIB join forces to support EU security and defence
The national promotional institutions of France, Germany, Italy, Poland and Spain as well as the European Investment Bank (EIB) will cooperate to bolster Europe’s security and defence industry. The six long term investors – Caisse des Depôts, Kreditanstalt für Wiederaufbau (KfW), Cassa Depositi e Prestiti (CDP), Bank Gospodarstwa Krajowego (BGK) and Instituto de Crédito Oficial (ICO) and the EIB – agreed to further explore cooperation opportunities.