The Eurasian Development Bank leading the fight against climate change: highlights from the Green Climate Fund event in North Macedonia
Almaty, 29 March 2024. Conrad Albrecht, Managing Director of the Eurasian Development Bank (EDB), took an active part in the Green Climate Fund’s (GCF) Regional Dialogue with Eastern Europe and Central Asia held from 18 to 22 March 2024 in Skopje, North Macedonia.
The event served as a platform for intensive discussions and the exchange of experiences among various stakeholders. Participants included representatives from governments, banks, international organisations and other partners focusing on strengthening collaboration with the GCF.
The meeting covered important topics such as accelerating funding for mitigation and adaptation projects in the region’s emerging and frontier markets, which are physically vulnerable and sensitive to climate change impacts.
Conrad Albrecht delivered a presentation during the Private Sector Facility plenary session, outlining the Bank’s key activities, history and investment portfolio. He highlighted the Technical Assistance Fund programmes, the Bank’s experience in successfully managing multi-million-dollar projects, its commitment to sustainable development and its contribution to climate change mitigation goals. The presentation also discussed the EDB’s experience in implementing climate projects in Central Asia, its new approach to assessing environmental and social project risks and its call for partners for transition financing.
In 2023, the EDB’s portfolio comprised 18 projects totalling over US $610 million in solar energy, wind energy, hydropower, energy efficiency and sustainable transportation. The value of green projects in the Bank’s cumulative portfolio peaked at US $1.2 billion in 2023, an 84% increase compared to 2018.
Conrad Albrecht expressed his appreciation to the GCF for the opportunity to showcase project experiences, achievements and potential for financial cooperation among regional financial institutions, such as the EDB, in strengthening targeted action to close the climate finance gap in the region.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For more than 18 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
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