Leading Multilateral Development Banks and the International Monetary Fund met at the European Investment Bank in Luxembourg on April 9 to map out their support for a sustainable global recovery and agreed the Copenhagen Accord is an opportunity for action to finance measures to combat climate change. On the global economy, they noted signs of recovery and agreed enhanced cooperation among the MDBs and the IMF played an important role in preventing a wider systemic crisis.
They concluded the global economy remains fragile and MDBs will need to continue to play a counter-cyclical role in 2010. The MDBs also discussed issues related to the G20 process, including the fight against non-cooperative tax jurisdictions and strengthening international prudential regulation.
Opportunities to scale up deployment of off-grid solar essential to unlock energy access across Africa were outlined today by development finance partners ahead of the launch of a new study by the International Solar Alliance and European Investment Bank.
The European Investment Bank, the European Union, the European Bank for Reconstruction and Development and Japan jointly donated EUR 400,000 worth of specialized equipment to Kyrgyzstani city of Uzgen allowing this ancient trading post to upgrade its water and wastewater services.