Algeria
Egypt
Israel
Jordan
Lebanon
Libya
Morocco
Palestine *
Syria *
TunisiaEU strengthens long term climate investments in MENA region
An EUR 5 million investment will support energy efficiency and renewable energy development in the Middle East and North Africa (MENA) region. The investment – announced at the COP23 for the Luxembourg – European Investment Bank (EIB) Climate Finance Platform (LCFP) – will channel funds through the Green for Growth Fund (GGF), in order to leverage private funding, and thereby increase the anticipated impact in the region.
The EIB is the largest multilateral provider of climate finance worldwide. In 2016, it provided over €19.5 billion to help mitigate climate change and adapt to its impact. Jesper Persson, head of Trust Funds and Blending at the EIB, said: “The objective of the bank’s operations in the Neighbourhood countries, where we operate under the European Union’s External Lending Mandate 2014-2020, is to support the economic growth of the region and improve their economic resilience by investing in the socio-economic infrastructure and supporting private sector development.”
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Countries covered:
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Algeria
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Egypt
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Israel
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Jordan
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Lebanon
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Libya
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Morocco
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Palestine *
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Syria *
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Tunisia
