Which one of the following launched the Nature Solutions Finance Hub for Asia and the Pacific?

(a) The Asian Development Bank (ADB)
(b) The Asian Infrastructure Investment Bank (AIIB)
(c) The New Development Bank (NDB)
(d) The International Bank for Reconstruction and Development (IBRD)

The correct answer is (a) The Asian Development Bank (ADB).

Explanation

The Asian Development Bank (ADB) launched the Nature Solutions Finance Hub for Asia and the Pacific at the COP28 climate conference in Dubai in December 2023.

The hub’s primary goal is to attract and mobilize at least $2 billion in public and private investments for projects that use “nature-based solutions.” These are projects that protect, manage, and restore natural ecosystems (like mangroves, forests, and wetlands) to address challenges like climate change and biodiversity loss.