Finance in Common Summit pledges 1 tn in 'green' projects

Data on 26 public development banks at CDP event

20 October, 16:15

    (ANSA) - Rome, October 20 - The coalition of Finance in Common, which gathered in Rome for a summit on Tuesday and Wednesday promoted by Italian investment bank Cassa Depositi e Prestiti (CDP), has highlighted its commitment to fighting climate change.

    Public development banks (PDBs) "are, in fact, increasing resources mobilized for the climate, as shown by the investment in 'green projects' worth 1,000 billion dollars by the 26 PDBs that are part of the International Development Finance Club (IDFC) and by pledges for further funding by 2025", according to a statement released by CDP.

    Public development banks, the statement highlighted, "are moreover supporting more ambitious national projects and long-term strategies that favor a reduction in funding for fossil fuels".

    A number of academic studies presented during the summit held in Rome showed the centrality of PBDs in providing the financial backing necessary to support long-term development. All the studies will be published on the website financeincommon.org.

    "The next edition of the Finance in Common Summit (FiCS 2022) will be hosted by the African Development Bank (AfDB) and by the European Investment Bank (EIB)", the statement said.

    (ANSAmed).

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