The COVID-19 pandemic gave us insight into how to collectively rebuild and reimagine the cities of the future. City Climate Finance Gap Fund, a new partnership funded by Germany and Luxembourg and implemented by the European Investment Bank and the World Bank, will tackle this issue and aim at low-carbon, sustainable recovery.
Panels with EIB participation
26 January – 09:30-11:30 am CET: Infrastructure we need – Mobilising finance for new infrastructure that enhances resilience
Scaling up climate resilient infrastructure investment is vital for ensuring progress towards the Sustainable Development Goals. In the near-term, it is also essential to support a resilient economic recovery from the COVID-19 pandemic.
EIB Vice-President Ambroise Fayolle, responsible for environment and climate action, will discuss how we can mobilise the investment needed to fill the resilience finance gap and support the economic recovery from the COVID-19 pandemic.
25-26 January: Aligning financial flows with the climate adaptation & resilience goals of the Paris Agreement
The event can be streamed on demand during 25 and 26 January 2021.
What does it mean to align financial goals to the climate resilience goals of the Paris Agreement? How are financial institutions accelerating finance for climate adaptation and resilience? What impact has the ongoing pandemic had on adaptation finance?
In this side event, a group of Multilateral Development Banks MDBs) and the International Development Finance Club (IDFC) will present their approaches to ensure that the projects they finance contribute to the goals of the Paris Agreement. They will also discuss how the COVID-19 pandemic has affected the MDBs and IDFC goals for adaptation finance, and the role of climate resilience in the recovery.
As major providers of development finance and investment in climate action, the MDBs and the IDFC have as crucial role to play in helping countries achieve their climate resilience objectives, including building forward better from the COVID-19 crisis.
In 2017 at the first One Planet Summit, the MDBs and IDFC pledged to align their operations with the Paris Agreement. As part of this progress, there have been increasing commitments around finance for adaptation and resilience, including announcements made at the UN Climate Action Summit in 2019.
This event is being hosted by the European Investment Bank in an effort to demonstrate how the Multilateral Development Banks and the International Development Finance Club (IDFC) are aligning their activities with climate-resilient pathways.
EIB supports resilience across the world
Financing agreed today is part of a €200 million pledge made by the EU during the 2019 Beira International Donor Conference. This backed Mozambique’s Disaster Recovery Framework, which sets the vision, strategic objectives and principles for recovery and reconstruction following the devastations caused by Tropical Cyclones Idai and Kenneth.