Brussels, Thursday, 13 January 2021 -
The European Bank for Reconstruction and Development (EBRD) provided €5.4 billion ($6.1 billion) in green finance in 2021, accounting for a record 51 percent of the bank's total transaction volume of €10.4 billion ($12 billion).
The bank stated in a statement on Thursday that this was "a significant increase from the 29 percent share of overall financing in 2020."
The EBRD stated it has put out "plans to promote the transition to a low-carbon economy in its areas by increasing the mobilisation of private-sector climate financing by 2025," with the goal of making a majority of its investments green by 2025.
The bank said in November that it will invest another €2 billion ($2.2 billion) on "green urban infrastructure over the following two years."
"The EBRD's second biggest overall annual business volume ever in 2021 was a crucial ingredient in the green financing record," the statement added.
The EBRD's overall number of projects in 2021 increased by four percentage points to 413, up from 411 in 2020, while private sector investment increased by four percentage points to 76 percent.
Seventy one countries, the European Union, and the European Investment Bank own the EBRD.
(Research and edit by: The Decision Maker)