Vice-President Fayolle: We are doubling our adaptation finance by 2030

Excellencies, Colleagues and Friends,

It is an honour to speak on behalf of the European Investment Bank Group at this high-level panel on adaptation. We meet in Belém, in the heart of the Amazon, at a time when climate change is not only a humanitarian and environmental emergency – it is a growing threat to global security and stability.

As the financial arm of the European Union, the EIB Group is stepping up. In the second phase of our pioneering Climate Bank Roadmap, we commit to doubling adaptation finance to €30 billion between 2026 and 2030. This reflects a reinforced commitment to protect lives, livelihoods and infrastructure – especially in fragile and climate-vulnerable regions in Europe and worldwide.

We are embedding adaptation across all operations– from water resilience and sustainable agriculture to nature-based solutions and urban climate-proofing. In parallel, we are streamlining access to finance, with a particular focus on empowering local governments and small businesses – those most exposed to climate risks and often least equipped to respond.

We are working closely with the European Commission and other multilateral development banks to align efforts, pool resources and scale impact. This includes joint initiatives to strengthen climate resilience in partner countries and support institutional capacity building.

Let me share four examples:

• Scaling Impact Beyond Europe: EIB adaptation finance outside the EU has quadrupled since 2022 to €1.4 billion in 2024, now accounting for nearly 30% of our climate action portfolio. Our initiatives include clean water and climate solutions for millions in Bangladesh and Jordan, and climate-resilient agriculture in Rwanda among others. In the least developed countries and small island states, our support for adaptation focused investments can cover up to 100% of project costs.
• Innovating for Resilience: In partnership with the Inter-American Development Bank and commercial lenders, we supported a sovereign debt conversion in Barbados. This transaction replaced existing debt with more affordable financing linked to climate resilience targets, helping to free up fiscal space for adaptation investments and strengthen long-term sustainability. In this operation, we also piloted the use of climate-resilient debt clauses.
• Mobilising Private Capital: We are unlocking private finance for adaptation through targeted funds in emerging markets. Our investments in the Climate Resilience Solutions Fund and Outrigger Impact Fund demonstrate how blended finance can support large-scale, climate-proof infrastructure.
• Building Institutional Strength: Through our Greening Financial Systems Technical Assistance Programme, we help central banks and financial institutions build climate-resilient systems. A new pilot advisory operation for Small Island Developing States – starting with Cabo Verde, Mauritius and Seychelles– is helping governments assess climate risks, and translate adaptation priorities, into pipelines of bankable investments.

Ladies and gentlemen, adaptation is about systems, innovation and institutional strength. At COP30, let us act together– with leadership, solidarity and a shared commitment to support prosperity and global security. You can count on the EIB Group to work with all of you for a sustainable and more resilient future.