The UK hosted the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow on 31 October – 12 November 2021. The European Bank for Reconstruction and Development (EBRD) took part in a conference, demonstrating the leading role among multilateral development banks (MDBs) as a pioneer in the delivery of climate finance.The EBRD took part in the COP26 climate conference to strengthen the delivery of climate finance. The EBRD has announced its intention to double the mobilisation of private sector climate financing by 2025. The way to achieve this target was set out in an Action Plan on Mobilising Private Capital for Climate Finance, unveiled at COP26. With this plan the EBRD will support the transition to a low carbon economy in its countries of operations.Green Economy Financing Facilities (GEFFs) represent one of the key action areas undertaken by EBRD to mobilise climate finance, in partnership with more than 160 partner financial institutions in 28 countries. According to the Action Plan, the GEFF model combines dedicated financing linked to clearly defined climate mitigation and adaptation activities, technical advisory support and, in some cases, donor-funded concessional finance. From 2022 to 2025, the EBRD GEFF model is expected to mobilise more than €1 billion of climate finance.
This project is funded by the European Union
In partnership with:
South Korea
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