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The European Investment Bank (EIB) will be announcing a number of major initiatives with its partners on the margins of the IMF/ World Bank Group annual meetings, taking place in Bali Nusa Dua, Indonesia this week. The EU bank will be meeting regional partners from across the globe, as well as the world’s Multilateral

Development Banks and fellow International Financial Institutions. Together, they will stress the need to cooperate and crowd-in private investors to address today’s challenges such as mitigating and adapting to climate change, building resilient cities and regions, supporting green infrastructure and protecting our natural capital such as oceans.

Ahead of the IMF/World Bank Group annual meetings, EIB President Werner Hoyer said: “Working in partnership is more important than ever, because none of us is equipped to deal with the scale of the global challenges facing us today. Take climate change: its effects are increasing both in frequency and intensity, and pressure on our environment and natural resources is growing. Take also the terrible, ongoing disaster on Indonesia’s Sulawesi Island: another kind of wake-up call for all of us to support the building of more resilient societies. Multilateral financial institutions like the EIB have a vital role to play to help channel private capital towards the energy transition and sustainability objectives that are needed to reach the Paris Agreement and the Sustainable Development Goals. Crucially all the initiatives that the EIB will highlight at the IMF/World Bank Group meetings are the result of multilateral action and strong collaboration with public and private sector partners.”

During the meetings, the EIB will announce strengthened collaboration to support green infrastructure with the Republic of Indonesia, a new initiative to clean the oceans with KfW Group on behalf of the German Federal Government, and the Agence Française de Développement (AFD), as well as continued support to green infrastructure with other multilateral banks at the Global Infrastructure Forum.

 

 

 

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