IFIs launch climate finance video campaign ahead of COP27
As strong allies for low carbon pathways, IFIs help the countries in which they invest to seize the economic and social opportunities presented by the transition to a greener world..

A group of international financial institutions (IFIs) are for the first time launching a joint video campaign, investing for a greener world, to showcase their role in facilitating climate change solutions, ahead of COP27.

The joint video aims to raise awareness of the impact of the IFIs' climate action work through the personal stories of beneficiaries, from St Lucia to the Philippines, Romania and Uganda.

Together, the participating institutions have a global reach, across Africa, Asia and the Pacific, Europe and the Americas.

Cumulatively, they invest billions each year in climate change mitigation and adaptation programmes, providing a collective green response that is fast and transformative. This adds crucial firepower to tackling global warming and extreme weather wherever it occurs. Their combined impact drastically cuts CO2 emissions, promotes awareness about climate solutions and benefits millions of people.

Caribbean Development Bank (CDB) President Dr Hyginus "Gene" Leon said, "As each IFI serves a particular region or constituency, our combined impact adds up to a substantial green footprint across the globe enabling judicious utilisation of natural resources, environmental preservation and sustainable development, which means the benefits of today do not sacrifice the possibilities of tomorrow."

As strong allies for low carbon pathways, the IFIs help the countries in which they invest to seize the economic and social opportunities presented by the transition to a greener world. As investors and partners, they catalyse private sector mobilisation and facilitate policy reforms conducive to greener practices. They also cooperate across regions to enable an exchange of knowledge and to deliver projects in response to the varied development needs of the economies in which they operate.

Inter-American Development Bank President Reina Irene Mejía said: "IFIs' collaboration plays a pivotal role in helping regions like Latin America and the Caribbean bring solutions and accelerate the transition to net-zero and climate-resilient economies."

The International Monetary Fund (IMF) is supporting this initiative within the context of its mandate to assist its member countries in addressing climate change to safeguard their macroeconomic and financial stability and promote economic growth.

IMF Managing Director Kristalina Georgieva said, "The devastating impact of global warming is already being felt around the world, so it's vital that we step up efforts to cut emissions and boost resilience in vulnerable countries. We can only succeed in the fight against climate change through global cooperation, and the institutions of the international financial system have a vital role to play."

The group of IFIs includes the African Development Bank (AfDB), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), Black Sea Trade and Development Bank (BSTDB), Caribbean Development Bank (CDB), Council of Europe Development Bank (CEB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), Islamic Development Bank (IsDB), New Development Bank (NDB), the Nordic Investment Bank (NIB), and the World Bank Group (WBG).

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at https://bit.ly/epaper-login


  1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper; email addresses will not be published.
  2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.
  3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.
  4. Please do not write in block capitals since this makes your comment hard to read.
  5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.
  6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.
  7. Lastly, read our Terms and Conditions and Privacy Policy