{"id":73995,"date":"2022-09-19T01:49:59","date_gmt":"2022-09-19T01:49:59","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/09\/19\/speaking-of-development-finance\/"},"modified":"2022-09-19T01:49:59","modified_gmt":"2022-09-19T01:49:59","slug":"speaking-of-development-finance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/09\/19\/speaking-of-development-finance\/","title":{"rendered":"Speaking of development finance\u2026"},"content":{"rendered":"

<\/a> Could MENA be in line for some EUR 4.4 bn in funding from the <\/strong>EIB? <\/strong>The European Investment Bank (EIB) is providing some EUR 4.4 bn of financing for climate action, some of which may go towards countries in the region, according to an EIB statement<\/a> issued last week. The funds will \u201cbetter protect vulnerable communities in Europe, Africa and the Caribbean from the impact of a changing climate and enable a just transition in regions strongly affected by changes to traditional energy use,\u201d said EIB president Werner Hoyer. This is part of a EUR 15.1 bn package approved by the EIB on Wednesday and designed to accelerate private sector investment, with a focus on climate<\/p>\n

We don\u2019t yet know just how much is earmarked for MENA, but Egypt is definitely getting a slice: <\/strong>The targeted business financing provided by the EIB will include \u201cpioneering initiatives to provide streamlined financing for green and sustainable business investment in Egypt,\u201d the statement tells us. Lending schemes to boost support for women-led business in Africa were also approved, it adds.<\/p>\n

MEANWHILE, THE EBRD IS SPREADING SOME FINANCE TURKEY\u2019S WAY-<\/strong><\/p>\n

Our friends at the European Bank for Reconstruction and Development (EBRD) will <\/strong>provide a <\/strong>EUR 50 mn on-lending facility to Turkish leasing company <\/strong>Yapi Kredi<\/a><\/strong>, EBRD said in a statement<\/a> on Wednesday. The facility will see Yapi Kredi provide leasing finance to borrowers looking to go ahead with pro-climate projects including energy efficiency and renewable energy installation, the statement added. The facility comes as part of the EBRD\u2019s Green Economy Financing Facility (GEFF<\/a>) initiative \u2014 and is the first to be offered to a leasing company.<\/p>\n

THE US HAS USD 5mn FOR AfDB-<\/strong><\/p>\n

The US will provide a USD 5 mn grant to the African Development Bank (AfDB) to <\/strong>lower methane gas emissions across Africa<\/strong>, according to an AfDB statement<\/a> on Thursday. The grant will be directed to the AfDB-managed Africa Climate Change Fund<\/a>, US special presidential envoy for climate John Kerry announced during the African Ministerial Conference on the Environment (AMCEN) in Senegal. Meanwhile, the Global Methane Hub<\/a> \u2014 a methane-reducing initiative signed by over 110 countries \u2014 will also contribute USD 5 mn over the next five years to the fund, while the Climate and Clean Air Coalition<\/a> will provide USD 1.2 mn.<\/p>\n

ENERGY EXPORTERS LOOK TO THE LONG-TERM-<\/strong><\/p>\n

The OPEC Fund for International Development is doubling its climate financing <\/strong>goals <\/strong>by 2030<\/strong>, according to an OPEC Fund statement<\/a> on Thursday. Under its first Climate Action Plan, the fund plans on raising the contribution of climate projects in its overall funding to 25% by 2025, and then raising that to 40% by 2030 \u2014 up from a current 20%. The plan will see the fund provide funding to partner countries in agriculture, water, transport and energy, as well as smart cities and climate finance solutions.<\/p>\n","protected":false},"excerpt":{"rendered":"

Could MENA be in line for some EUR 4.4 bn in funding from the EIB? The European Investment Bank (EIB) is providing some EUR 4.4 bn of financing for climate action, some of which may go towards countries in the region, according to an EIB statement issued last week. The funds will \u201cbetter protect vulnerable […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[443],"tags":[297,531,390,179,11,164,865,191,866],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-73995","post","type-post","status-publish","format-standard","hentry","category-climate-finance","tag-afdb","tag-climate-finance","tag-ebrd","tag-eib","tag-enterpriseclimate","tag-green-finance","tag-opec-fund-for-international-development","tag-turkey","tag-yapi-kredi","wpautop","entry"],"acf":{"mongo_id":"32aebfd1-0385-4303-b23b-88d46f54b94f","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[73988],"teaser":"","voice_url":""},"yoast_head":"\nSpeaking of development finance\u2026 - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2022\/09\/19\/speaking-of-development-finance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Speaking of development finance\u2026\" \/>\n<meta property=\"og:description\" content=\"Could MENA be in line for some EUR 4.4 bn in funding from the EIB? 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