European Bank for Reconstruction and Development High Impact Partnership on Climate Action
Description
EBRD has established a dedicated partnership - the “High Impact Partnership on Climate Action” that builds synergies and aggregates ambitions to achieve scaled-up climate impact, in the Bank’s countries of operation (COOs). HIPCA provides a critically needed vehicle to support EBRD in achieving its 50% target for green financing by 2025 and the aim to align its activities with the goals of the Paris Agreement. The primary objectives of HIPCA are to: i) Support investments and policy solutions that reduce or prevent greenhouse gas emissions and protect the environment; ii) Enhance adaptive capacity, strengthen resilience and reduce vulnerability to climate change; and iii) Create and reinforce enabling environments that unlock the private sector[1] to act as an agent for climate and environmental action. The Partnership takes the form of an EBRD-managed multi-donor facility that deploys reimbursable and non-reimbursable donor contributions across key thematic areas and regions. HIPCA builds on the Bank’s unique business model, which combines EBRD (+other) commercial financing with concessional co-financing, policy engagement and technical assistance. [1] The Bank supports the transition to open, sustainable and market orientated economies, with a focus on the private sector. However, a thriving private sector needs the support of effective state institutions. There is therefore the need to achieve a balance between state and market support. To this effect, the Bank works with both private sector and public sector (in particular sub-sovereign) entities to facilitate downstream private sector mobilisation.
Funding decision
39 730 000 €
Objectives monitored by OECD's Development Assistance Committee
- Climate change - mitigation
- Climate change - adaptation
- Gender equality
Field of activity
- Formal sector financial intermediaries 100%
Funding channel
Euroopan jälleenrakennus- ja kehityspankki
Contact
Code for the object of funding
18900424
ID
UHA2021-005727
Modified
21.06.2022