The EDB joins the Water Finance Coalition (WFC)
Almaty, 4 July 2023. The Eurasian Development Bank (EDB) has joined the Water Finance Coalition (WFC), an association of national and international development institutions, coordinating financing for the water and sanitation sector in order to achieve Sustainable Development Goal 6, the Paris Agreement objectives, and to enhance biodiversity protection.
Established in 2021 by the Agence Française de Développement (AFD), the Development Bank of Latin America (CAF), the European Investment Bank (EIB), the World Bank, and Sanitation and Water for All (SWA), the WFC currently brings together more than 70 institutions from Asia, Africa, North and South America, and Europe.
“The EDB’s participation in the Water Finance Coalition provides access to applied instruments, case studies, working groups, best practices, and success stories from leading national and international development institutions that are at the forefront of achieving UN Sustainable Development Goal 6. The water and sanitation sector can comprise a substantial portion of our investment portfolio, including small-scale projects and related support programmes facilitated by our Technical Assistance Fund. We have no doubt that common interests and collaborative efforts with other development institutions can be important for the implementation of one of our three key investment megaprojects, the Central Asian Water and Energy Complex,” said Conrad Albrecht, Managing Director and Head of the EDB Sustainability Directorate.
He further highlighted that partnerships among international development banks play a crucial role in implementing major water and sanitation projects. The EDB is ready to become a centre for consolidating and arranging finance for relevant projects within its region.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For more than 17 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia and Tajikistan. The Bank’s charter capital totals US $7 billion. The EDB’s portfolio mainly consists of projects with an integration effect in transport infrastructure, digitalisation, green energy, agriculture, industry, and machinery. Its operations are guided by the UN Sustainable Development Goals and ESG principles.
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