The Eastern and Southern African Trade and Development Bank (TDB) has signed a memorandum of understanding with the UN Environment Programme (UNEP) to step up its commitment to climate change mitigation and adaptation.
The agreement establishes a framework of co-operation through which the two organisations can collaborate in a number of areas to tackle climate change and boost finance.
They will work together to enhance investment opportunities for both public and private finance to support clean energy technologies, including early stage development and project finance of renewable energy projects.
It will also include the development of financing mechanisms to allow access to smaller scale sustainable energy and energy efficient appliances for household and productive use.
In addition, the two organisations will co-operate on supporting eligible TDB member states to access Green Climate Fund resources to enable them to adapt to the changing climate and develop a low emission pathway.
Admassu Tadesse, TDB President and Chief Executive said: “As a member of the International Development Finance Club, a leading global group of development financiers advancing the Sustainable Development Goals (SDGs) and climate finance, TDB works closely with its partners to implement the 2030 SDG Agenda as well as the Paris Climate Agreement.
“With global partners such as UNEP, we expect to more seriously realise the international commitment to support Africa to grow and develop sustainably.”