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Monday, 10 May 2010

DFIs to establish joint Climate Change Fund

Agence Française de Développement (AFD), the European Investment Bank (EIB) and European Development Finance Institutions (EDFI) will establish a joint climate change fund. AFD, EIB and EDFI members signed a Memorandum of Understanding for THE INTERACT CLIMATE CHANGE FUND (ICCF) at a meeting in Bruges on Friday (7 May). The Parties intend to establish an investment matching facility to invest in private sector climate change projects in Africa, the Caribbean and the Pacific, Asia and Latin America before the end of 2010.The institutions have extensive experience operating across developing countries and emerging markets and share a joint interest in financing climate change and climate efficiency projects with the aim of creating a portfolio of climate friendly private sector investments in target countries.

Source: European Investment Bank

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