IFIs Reaffirm Climate and Economic Crisis Aid

The African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, World Bank, and International Monetary Fund reaffirmed their support in maintaining a sustainable economic recovery and combating climate change.

In their meeting at EIB headquarters in Luxembourg, the agencies said they will continue to adopt a counter-cyclical approach to prevent another global financial crisis from breaking out.

The institutions also backed the Copenhagen Accord and reiterated their readiness to provide technical assistance to help achieve a post-2012 international agreement on climate change. They also remain committed to mobilizing financing for low-carbon investments.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.