COP28: EU and EBRD pledge to step up green investments in partner countries
December 4, 2023

COP28: EU and EBRD pledge to step up green investments in partner countries

The EU and the European Bank for Reconstruction and Development (EBRD) have stated their commitment to accelerate green investments in the Eastern Partnership, as well as the Southern Mediterranean, Türkiye, and the Western Balkans, signing statements of intent at the occasion of the COP28 Meeting in Dubai on 2 December, for two guarantee schemes to be funded by the European Fund for Sustainable Development Plus (EFSD +).

The €60 million Municipal, Infrastructure & Industrial Resilience guarantee will support the EBRD’s lending to corporates and public utilities in the EU’s Eastern and Southern Neighbourhood, as well as in Türkiye, for investments in green technologies, transport and logistics sectors, and to improve energy efficiency.

The €168 million HI-BAR guarantee will allow the EBRD to accelerate investments in climate mitigation measures and innovative green technologies, including investments into green hydrogen and critical raw materials.

The implementation of these guarantee schemes will contribute to cleantech development, which is central to achieving climate neutrality and the goals of the Paris Agreement. 

The overarching priorities of the EU in its cooperation with the Neighbourhood and the Enlargement countries are the support of the Green Deal and Global Gateway initiatives, together with the promotion of decent jobs and sustainable and inclusive growth. These priorities are implemented through Economic and Investment Plans agreed with the countries of the Eastern Partnership, Southern Neighbourhood and Western Balkans.

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