The shareholders of the European Investment Bank (EIB) Group, the EU Member States, approved a record-high financing ceiling of €100 billion for this year and new programmes to strengthen Europe’s competitiveness, technological leadership and security.
A fund created by the European Investment Bank (EIB) and Allianz Global Investors (AllianzGI) to spur climate financing in emerging markets grew to €450 million with a final contribution from the German government. The closing size of the Emerging Markets Climate Action Fund (EMCAF) results from a €20 million top- up from Germany’s Kreditanstalt für Wiederaufbau (KfW) on behalf of the German Federal Foreign Office.
Multilateral development banks (MDBs) today issued a joint statement at COP29 in Baku outlining financial support and other measures for countries to achieve ambitious climate outcomes.