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· The European Bank for Reconstruction and Development (EBRD) will focus more on the Green Cities as a part of its expansion plan
· It has allocated an additional Euro 950 million for green city program, which will be part of its city sustainable program
· That means in the next three years, EBRD will double investments in the green projects
The European Bank for Reconstruction and Development (EBRD) will focus more on the Green Cities as a part of its expansion plan. It has allocated an additional Euro 950 million for green city program, which will be part of its city sustainable program. That means in the next three years, EBRD will double investments in the green projects.
EBRD’s Green Cities program, set up in 2016 with an investment of Euro 250 million has received an additional funding of Euro 700 million in 2018. Also, it has mobilized co-financing from organizations like Green Climate Fund (GCF) as also from several multilateral and bilateral donors. Presently, it has more than Euro 2 billion as a dedicated fund to support EBRD Green City project. As of now, the project is implemented in 43 cities and proposes to cover 100 cities by 2024.
The project program focuses on areas like climate change and environmental up-gradation so as to prevent emissions and help control climate change. The underlying objective is to make cities around the world more livable and to ensure better quality of living. As a part of the overall objective of the program, the scheme aims to reduce the emissions from buildings, improve efficiency of transport system, clean energy, gender equality and inclusive growth.
