EBRD quadrupled the size of its Green Cities programme

The EBRD quadrupled the size of its Green Cities programme in support of environmentally friendly municipal investments to almost €1 billion.

Cities represent one of the greatest opportunities to address climate change and environmental degradation, since they account for 70 per cent of energy use and 80 per cent of greenhouse gas emissions.

The EBRD Green Cities programme addresses challenges that are particularly urgent in the regions where the Bank operates. In many cases, obsolete urban infrastructure is severely affecting the quality of life of citizens, increasing greenhouse gas emissions, and preventing communities from adapting to climate change.

EBRD Green Cities grew in 2018 after a first €250 million of funding, designed to last five years, was mostly committed within just two years. In October, the EBRD approved a further €700 million of funding, expanding the number of cities that can be supported.

source : EBRD

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