ADB plans to boost climate lending by up to $7.2 billion with new guarantees from the US and Japan.

The Asian Development Bank (ADB) plans to boost climate-related lending by up to $7.2 billion, thanks to new sovereign guarantees from the US and Japan, marking a global first. This move aims to aid developing nations in transitioning to clean energy and adapting to climate change, ahead of the COP29 climate summit. The ADB hopes this will encourage other countries to offer similar guarantees and expand lending for climate finance.

November 11, 2024
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