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EBRD mobilises 87mln euro from GEF to help 4 SEE countries fight climate change

EBRD mobilises 87mln euro from GEF to help 4 SEE countries fight climate change Source: EBRD.

TIRANA (Albania), July 2 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) said it has signed an agreement with the Green Climate Fund (GCF) releasing 87 million euro ($98.2 million) of GCF funds to help cities in nine countries, including four in Southeast Europe address climate change.

The GCF contribution is the first tranche towards the total of 228 million euro facility supporting EBRD Green Cities, the bank's rapidly expanding urban sustainability programme, EBRD said in a press release late on Tuesday.

The funding will support the EBRD’s programme for climate-focused sustainable urban development in Albania, North Macedonia, Serbia and Moldova, as well as in Armenia, Georgia, Jordan, Mongolia and Tunisia.

“More than two dozen cities are now members of EBRD green cities, with more than 1 billion euro in EBRD and donor funding mobilised to support the programme,” the bank noted.

The GCF support for EBRD Green Cities will focus on promoting climate action in cities through the mitigation of greenhouse gases and adaptation to increasing climate risks, in line with the GCF’s objectives,” the EBRD said. In other parts of the programme, investments are also targeted towards projects to limit water, air and soil pollution and improve solid waste management.

($ = 0.88551 euro)

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