ADB Climate Lending Boost

Santhosh Kumar 23/11/2024

The Asian Development Bank (ADB) will increase climate-related lending by .2 billion, supported by the first sovereign guarantees for climate finance from the U.S. (

billion) and Japan (0 million). This innovative approach will back loans over 25 years, with projects like sustainable aviation fuel production in Pakistan as early beneficiaries. ADB aims to meet its 0 billion climate finance target by 2030. The initiative sets a precedent for multilateral banks and aligns with global climate goals discussed at COP29 in Azerbaijan. This strategy emphasizes collaboration and sustainable financial solutions for addressing climate challenges.

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Categories: Global Warming & Climate Change, International Organisations/Groupings/Agreements/Conventions

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