The European Bank of Reconstruction and Development (EBRD) received over €250mn in donations for green investments in 2016, bringing the total since 2006 to over €1.4bn.
The two biggest contributors were the Climate Investment Funds (CIF) and the European Union followed by bilateral donors from numerous countries in Europe and Asia, as well as from the US.
Donors’ support of the EBRD’s sustainable development model shows they recognise going green as a key quality of successful market economies, says the EBRD in a statement.
“Donor partnerships are crucial for driving growth for the green economy. The EBRD combines green investments with donor-funded technical assistance, for instance, for energy audits and investment preparation, and concessional finance,” it says.
The donations are much needed, as many EBRD countries, especially those from the former Soviet bloc, have suffered years of wasteful energy use and environmental neglect, while some also face vulnerability to climate change.