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GCF

Flagship EBRD Green Cities doubles in size

1 min read

The FINANCIAL — Finance for the EBRD’s pioneering urban sustainability programme, EBRD Green Cities, is doubling in size with a further €950 million allocated to extend work over the next three years. Set up in 2016 with €250 million and expanded in 2018 by a further €700 million of EBRD funds, EBRD Green Cities has mobilised significant co-finance, including €87 million from the Green Climate Fund (GCF) for concessional funding, as well as technical cooperation from the GCF and several bilateral donors. With the new funding, more than €2 billion will be dedicated to supporting EBRD Green Cities. The successful programme has already…

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Flagship EBRD Green Cities doubles in size

1 min read

The FINANCIAL — Finance for the EBRD’s pioneering urban sustainability programme, EBRD Green Cities, is doubling in size with a further €950 million allocated to extend work over the next three years. Set up in 2016 with €250 million and expanded in 2018 by a further €700 million of EBRD funds, EBRD Green Cities has mobilised…

Kazakhstan forges ahead with Renewable Energy

2 mins read

The FINANCIAL — The signing of a syndicated US$95.3 million deal to support the construction of the Zhanatas 100 MW wind farm in southern Kazakhstan, marks a major milestone in the decarbonisation and diversification journey away from the country’s coal legacy.  This will be one of the largest windfarms in the region, achieving a myriad of breakthroughs in the market and…

Global Climate Fund supports FAO-led projects with $160 mln

3 mins read

The FINANCIAL — The Board of the Green Climate Fund (GCF) approved three new FAO-designed projects in Argentina, Guatemala and Sudan for a total amount of $158.6 million aimed at mitigating greenhouse gas emissions, strengthening resilience to climate change, and combating deforestation. FAO Director-General QU Dongyu stressed FAO’s willingness to continue working closely with GCF in support…

EBRD, EU and GCF boost green finance in Egypt

2 mins read

The FINANCIAL — The European Bank for Reconstruction and Development (EBRD), the European Union (EU) and the Green Climate Fund (GCF) are responding to the impact of the coronavirus pandemic on the Egyptian economy by boosting green finance and the development of value chains for the private sector. Working with the EBRD’s local partner banks, two programmes cumulatively worth €220 million will offer…