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An increase of nearly 30 per cent on the previous year, boosting projects that help developing countries cut emissions and address climate risks.
WASHINGTON, June 13, 2018 – Climate financing by the world’s six largest multilateral development banks (MDBs) rose to a seven-year high of $35.2 billion in 2017, up 28 per cent on the previous year.
Sept banques multilatérales de développement (BMD) ont lancé une nouvelle plateforme en vue de renforcer leur collaboration dans le cadre des migrations économiques et des déplacements forcés. Lancée en marge des réunions de printemps du Fonds monétaire international (FMI) et du Groupe de la Banque mondiale, cette plateforme a pour but d’appuyer le dialogue stratégique et la coordination opérationnelle des BMD afin de maximiser l’impact de leur engagement croissant dans ces deux domaines.
WASHINGTON, April 20, 2018 – Seven Multilateral Development Banks (MDBs) launched a new platform to enhance their collaboration on economic migration and forced displacement today on the margins of the IMF-World Bank Group Spring Meetings. The platform will advance strategic dialogue and operational coordination to maximize the impact of MDBs’ growing engagement in these two areas.
- Today’s vote gives the green light to the EU Bank for an extra 3.7 billion euros in support of the Bank’s Economic Resilience Initiative to target migration in the EU’s Southern Neighborhood and the Western Balkans.
- It allows for an increase in financing for Europe’s Eastern Partnership countries, including Ukraine
The European Investment Bank (EIB) and the Caribbean Development Bank (CDB) have set up an emergency post-disaster reconstruction financing initiative to help the Region recover from recent hurricane events.
Seven Multilateral Development Banks (MDBs) announced a new coordination platform on economic migration and forced displacement today in a meeting with G7 officials at the World Bank Annual Meetings, to advance strategic priorities, including improving data and evidence and strengthening technical assistance to maximize the impact of projects supported by MDBs.
This sixth edition of the Joint Report on Multilateral Development Banks’ Climate Finance provides an overview of financing committed by the African Development Bank (AfDB), the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Inter-American Development Bank Group (IDBG), and the World Bank Group (WBG), to climate change mitigation and adaptation projects and activities in 2016.
Investing for Impact: EIB President Werner Hoyer signs declaration of support for new European Consensus on Development as report on EIB development impact is published
The European Investment Bank (EIB) and Caribbean Development Bank (CDB) have signed a USD 110 million financing agreement to support investment projects in the Caribbean under CDB’s climate action policy. The Climate Action Framework Loan II builds on the USD 65 million Climate Action Line of Credit (CALC) signed between EIB and CDB in 2011, and which supports nine projects in seven countries across the Caribbean. The EUR 100 million climate action initiative is the EIB’s biggest loan to the Caribbean.
A major investment for Ethiopia, which hosts the largest population of refugees in Africa, has been endorsed by the European Investment Bank, the EU Bank. The project is seen as a flagship project for sub-Saharan Africa.
US $81 billion mobilized in 2015 to tackle climate change: Joint MDB report
Climate finance totalling US $81 billion was mobilized for projects funded by the world’s six largest multilateral development banks (MDBs) in 2015. This included $25 billion of MDBs’ direct climate finance, combined with a further $56 billion from other investors.
- Reference: 2016-164-EN
A new initiative from the European Investment Bank (EIB) to support regions outside of Europe that are significantly affected by the refugee crisis has been welcomed by EU heads of state and governments meeting in Brussels today. Responding to a request by the European Council in March, EIB President Hoyer laid out how the EU Bank could step up its support and address the pressing needs of the regions with action to support growth, jobs vital infrastructure and social cohesion.
We, the undersigned Multilateral Development Banks (MDBs), are committed to working together, and within our respective institutional mandates, to respond to the global forced displacement crisis and further strengthen our contributions to the development agenda, complementing ongoing humanitarian, diplomatic, security and peacekeeping efforts required to meet the needs of asylum seekers, refugees, Internally Displaced People (IDPs), as well as their countries of origin and host countries.
Migratory flows to Europe: new dimensions to deep-rooted patterns
Working to build greater prosperity for disadvantaged and vulnerable rural people in developing countries around the world, the European Investment Bank (EIB) and the International Fund for Agricultural Development (IFAD) signed an agreement today to reinforce and expand cooperation between the two organisations.
The Memorandum of Understanding was signed by EIB’s Vice-President, Pim van Ballekom, and IFAD’s Associate Vice President, Henock Kifle, in the margins of the International Monetary Fund and the World Bank Group Spring Meetings in Washington DC.
The European Investment Bank has been approved as a new partner institution of the Green Climate Fund (GCF) today. The Green Climate Fund was set up in 2010 at the United Nations climate talks to help developing countries tackle the challenge of climate change through finance for clean and efficient energy and other mitigation investments, as well as adaptation measures to support countries and people vulnerable to the effects of global warming.
The European Investment Bank today approved EUR 8.2 billion of new loans to improve social infrastructure, strengthen competitiveness of EU companies and better protect vulnerable regions from a changing climate. The thirty-seven new projects to be supported by Europe’s long-term lending institution include EUR 3 billion to improve access to finance by small businesses across Europe, the Balkans, Turkey, central Asia and Africa.
The European Investment Bank (EIB) is lending EUR 500 million to the Republic of Slovenia to co-finance priority projects being supported by EU funds during the 2014-2020 programming period. The EIB loan, in line with the Partnership Agreement and the Europe 2020 Strategy, will cover the national co-financing contribution for projects. Part of the loan is to be devoted to alleviating the financial burden of Slovenia, one of the countries along the Western Balkans Route most affected by the current wave of refugees.
The board of the European Investment Bank yesterday approved more than EUR 12 billion of new loans expected to support investment in roads, railways, industrial innovation, social housing, hospitals, and energy, as well as lending by leading local banks to enhance access to finance by small businesses across Europe and around the world.
The Board opened its work by observing a minute of silence in memory of the victims of the terrorist attacks in Paris last week.
The EIB will host today a working lunch with EU Finance Ministers at EIB premises. The meeting takes place at a time when Europe is faced with the largest migration of displaced people since the end of World War II. “This emergency is perhaps the most challenging test since the fall of the iron curtain for the European Union, its commitment to solidarity, and its values”, said EIB President Werner Hoyer.