Infrastructure in developing countries: Built to last, no matter the weather
Mobilising private funds is key to all climate projects, but it's extremely important in climate-related infrastructure in developing countries. That's even more true after the Paris climate agreement of last December. Last year the EIB lent a record EUR 20.6 billion for climate action (26.8% of all the Bank's lending) in every one of the 28 EU member states, and in projects from Nicaragua to Nepal. To help meet the standards set in Paris, the EIB expects to finance climate-friendly projects worth USD100 billion by 2020. "When we plan and finance infrastructure projects, we have to ensure their consistency with" national emissions targets, says Monica Scatasta, the EIB's head of environmental, climate and social policy. Because infrastructure is built for the long-term, projects have to be examined to be sure that they'll stand up to changes in climate over many years to come.