Development cooperation

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

keo-50

Code for the object of funding

18900424

ID

UHA2021-005727

Modified

21.06.2022