BAKU, Azerbaijan, April 13. The European Investment Bank (EIB) will hold extensive consultations in late April on adapting financial mechanisms to lend to climate and sustainable development projects, the publication of vice President of EIB Ambroise Fayolle said, Trend reports.
"We will hold long and open conversations in Luxembourg on April 24-25 about economic, social, and climate concerns, the global application of creative ideas, and bank adaptation to new circumstances. These so-called 'Adaptation Days' will be strictly practical to share experience on financial instruments and willingness to join in investing in climate change mitigation initiatives," Fayolle noted.
According to him, a reasonable transition from fossil fuels to low-carbon technology is required, and banks should offer a range of tailored financial services to ensure the success of specific initiatives.
To be clear, the EIB is prepared to deploy multibillion-dollar investments to implement the UN's global climate agenda, as announced at COP28.
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