EIB Global sets up climate fund with Germany and Luxembourg as pioneer contributors
Luxembourg, Nov. 14 -- The European Investment Bank Group's development arm, EIB Global, is teaming up with Germany and Luxembourg to boost green financing worldwide. EIB Global is creating a trust fund for climate action to which Germany and Luxembourg are contributing a total of €32 million as initial donors.The initiative - called the Greening Financial Systems Fund - will facilitate investments in actions that counter climate change and promote environmental sustainability. Germany is providing €30 million and Luxembourg is offering €2 million, with the door open to other donors.The three parties signed the agreement today at the 30th United Nations climate conference in Belem, Brazil, highlighting the European Union's...
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