Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Thursday, May 24, 2018 07:19:08 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

MDBs increase climate financing to $27.4b in 2016

By
12th-Sep-2017       
Comments
Share your thought
Post a comment »
Read all () »

Economic Reporter :
The world's six largest multilateral development banks (MDBs) continued to make a strong contribution to the global climate challenge in 2016, increasing their climate financing in developing countries and emerging economies last year to $27.4 billion from $25 billion in 2015.
Of the total, $21.2 billion or 77 percent was dedicated to climate mitigation finance, with the remaining 23 percent devoted to climate adaptation, said a media release on Monday.
Combined with additional co-financing from other investors, the total amount of finance mobilized for climate action reached $65.3 billion last year.
The MDBs have reported jointly on climate finance since 2011. Collectively, the banks have committed over $158 billion in climate finance during the past 6 years.
The latest MDB climate finance figures are detailed in the 2016 Joint Report on Multilateral Development Banks' Climate Finance, combining data from the African Development Bank, the Asian Development Bank (ADB), the European Bank for Reconstruction and Development, the European Investment Bank, the Inter-American Development Bank Group, and the World Bank Group.
"ADB acknowledges MDB's pivotal role in providing climate finance and remains committed to strengthen its collaboration with other MDBs and ultimately to the successful implementation of the Paris Agreement," said Bambang Susantono, ADB Vice-President for Knowledge Management and Sustainable Development.
"ADB has recently approved its Climate Change Operational Framework 2030, which will guide us in enhancing resilience and strengthening climate actions in the Asia and Pacific region," said Susantono.
Broken down by region, the largest share of last year's MDB climate finance went to South Asia, with 20 percent, followed by East Asia and the Pacific and non-EU Europe and Central Asia, with 19 percent and 18 percent, respectively, he said.
The Middle East and North Africa, at 9 percent, and Sub-Saharan Africa, at 7 percent, received the least climate finance, he added.
Susantono said "The MDBs also reported again on climate finance according to financial instrument. The vast majority of finance, or 73 percent, was provided in the form of investment loans".
He said the MDBs and the IDFC agreed on the Common Principles for Climate Adaptation Finance Tracking in July 2015. The MDBs and the IDFC have begun taking the next steps to harmonize their approaches in tracking adaptation finance, he added.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

About Rohingya children`s bleak future


FOLLOWING numerable foreign dignitaries, ministers, bureaucrats, Nobel laureates and the Pope -  a Bollywood celebrity  visited the Rohingya camps  commenting that the future of Rohingya children is deeply uncertain. The Indian actress and UNICEF Goodwill Ambassador Priyanka Chopra said Rohingya children can have a chance in the future only with ...

Football »

Diego Gonzalez of Argentina`s Racing Club (left) fights for the ball with Lucas Romero of Brazil's Cruzeiro during a Copa Libertadores soccer match in Belo Horizonte, Brazil on Tuesday.


Cricket »

South Africa's AB de Villiers retires from international cricket


South Africa's star batsman AB de Villiers on Wednesday announced he was retiring from all international cricket after a 14-year career. "I have decided to retire from all international cricket with immediate effect," he said in a statement. "After 114 Test matches, 228 ODI's and 78 T20 Internationals, it is ...

City »

Principal Golum Mahmudunnabi Dollar speaking at a press conference at the Jatiya Press Club on Wednesday demanding implementation of Prime Minister Sheikh Hasina's assurance for MPOs of the institutions in the upcoming national budget 2018-19.


Entertainment »

Amyra Dastur joins Kangana, Rajkummar for Mental Hai Kya


The young actress Amyra Dastur after making her impact in the south film industry is set to impress Bollywood with the announcement of multiple projects this year. Amyra received rave reviews for her performance in Kaalakandi early this year with Saif Ali Khan is now seems to have an interesting ...

Entertainment »

Tazin buried at her father`s grave


Entertainment Report :Popular TV actress and host Tazin Ahmed was buried in the city’s Banani graveyard on Wednesday afternoon. She was laid to rest at her father’s grave at about 2:50pm following a namaz-e-janaza at Gulshan Azad Mosque after Zohr prayers.  Tazin died of cardiac arrest at Regent Hospital in ...

International »

Speculation mounts over US push for Iran regime change


AFP, Washington :Speculation is swirling over the prospect of US willingness to push regime change in Tehran, as US officials including Washington's top diplomat urge Iranians to "choose for themselves" their government."The Iranian people get to choose for themselves the kind of leadership they want," Secretary of State Mike Pompeo ...

Back Page »

Honest earning


Abdul Muqit Chowdhury :The acceptance of fasting or any prayer to Allah depends on lawful honest earning. The persons, related with trade and commerce, thus, should evaluate their earnings and background of economic relations in the society. This is very much applicable particularly in the month of Ramzan. Jakat and ...

Editorial »

Attitude is that supporters of government must enjoy all the benefits conceivable


THE day before yesterday, the Cabinet approved a draft of the Government Telephone, Cellular and Internet Policy-2018 raising the mobile phone allowance for ministers and secretaries to Tk 75,000 from Tk 15,000. The draft also introduced a number of changes to the existing policy framed in 2004.After a certain period ...

City »

Ship Tajuddin of Bangladesh Coast Guard left for India in a goodwill visit from Patenga in Chittogram yesterday.


Sports »

Zia finishes at 13th position in Kolkata Open Chess


GM Ziaur Rahman Zia finished at 13th position in the 3rd Kolkata International Open Grandmasters Chess tournament which was held in Kolkata, India. GM Zia bagged 6.5 points out of 9 games and tied for 7th to 18th places, in tie-breaking system GM Zia became 13th. In the 9th or ...

Football »

Montreal Impact's Saphir Taider (right) challenges L.A. Galaxy's Perry Kitchen during first-half MLS soccer game action in Montreal on Monday.


International »

Erdogan hints Turkey may ban some Israeli goods because of Gaza violence


Reuters, Istanbul :President Tayyip Erdogan has hinted that Turkey might consider imposing a ban on imports of some Israeli goods over the killing of Palestinian protesters by Israeli forces on the Gaza border, media reported on Tuesday.Erdogan, who is campaigning for re-election in June, last week hosted Muslim leaders who ...

International »

Syrian army, police celebrate recapturing all of Damascus


AP, Beirut :Syrian state TV says the military and police forces are celebrating recapturing the last neighborhoods in Damascus that were held by the rebels and the Islamic State group.Al-Ikhbariya TV broadcast footage of a ceremonial police motorcade entering the Hajar al-Aswad neighborhood with sirens blaring on Tuesday, a day ...

Business & Economy »

Hafizur Rahman, Chairman of Runner Group, receiving the 'President's Industrial Development Award-2016' from the President Md Abdul Hamid at Osmani Memorial Auditorium on Tuesday.


 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news