BAKU, Azerbaijan, December 5. The Strategic Implementation Plan (SIP) for 2024-2026 focuses on climate financing with an emphasis on quality and efficiency, Trend reports.
The European Bank for Reconstruction and Development (EBRD) has outlined this in its report from the Board of Directors to the Board of Governors regarding the SIP for 2024-2026.
"Country strategies will play a key role in addressing current development needs and overcoming delays through targeted investments, policy advice, and sectoral support. This will enhance the Bank's operational and programmatic activities.
The Bank has also responded to calls from the G20 for more effective use of leverage to attract private financing for development goals. It has set a target to mobilize 2 billion euro in private investment, which is 40 percent higher than the 2023 target. This will allow the bank to achieve the levels set in its strategic and capital base one year ahead of schedule. The Bank’s commitments related to public policy, as part of its capital increase plan, are expected to drive private financing to 2.5 billion euro per year by the end of 2025," the Bank said.
Overall, the EBRD’s financing volume from both its own resources and direct private investments is projected to reach between 13.5 billion euro and 14.5 billion euro in 2024.
