EIB and IDB join forces to strengthen post-disaster recovery and climate resilience of Haiti, while 40 Finance Ministers launch a Coalition for Climate Action
13 April 2019
On the margins of the IMF/World Bank Group Spring Meetings in Washington, the EIB and the Inter-American Development Bank (IDB) signed a first-of-its-kind collaboration agreement, formalising their joint efforts to reinforce Haiti’s resilience to climate change and natural disasters.
While signing the agreement, EIB Vice-President Navarro said: “I am very pleased to sign this enhanced collaboration agreement with IDB. This will pave the way for deeper cooperation on post-disaster and climate resilient public infrastructure in Haiti.”
This greater cooperation is fully in line with the Addis Ababa Action Agenda and the Accra Action Agenda, which aim at deepening the implementation of the Paris Declaration on Aid Effectiveness through better coordination of efforts within the international development community.
This agreement will enable the EIB to participate in the financing of an important project to support post-hurricane reconstruction needs in Haiti. This project consists of the construction of new bridges that can better withstand extreme weather and earthquakes. It is part of a broader IDB investment grant Transport and Departmental Connectivity Program, which aims to further improving the quality, accessibility and safety conditions of Haiti’s transport infrastructure through an increase in paved road coverage and the rehabilitation and upgrading of transport infrastructure.
Also on the margins of the IMF/World Bank Group Spring Meetings, Vice-President Navarro welcomed the launch of the new Coalition for Climate Action, a set of principles signed by 40 Finance Ministers to guide and boost collective engagement on climate action. This Coalition, called by the President of the WBG and the UN Secretary General, seeks to drive forward greater ambition on the climate agenda through climate-informed fiscal policymaking. “Strong partnerships for coordinated policies are crucial to tackle climate change and its effects”, said Emma Navarro.