financing
Low and middle-income economies received around 67% of the total funding
The announcement has been made as part of the bank’s 2025 Sustainable Progress Strategy to help accelerate the transition towards a low carbon economy
That includes investment in energy efficiency and clean energy projects that support the transition towards a low carbon economy
It has pledged to stop lending and offering underwriting services to companies with more than 15% activities related to coal as well as major oil and gas producers
Polish energy companies Enea SA and Energa SA have announced they have halted financing for the 1GW Ostrołęka C facility due to shifting economic and political contexts
The funding from IFC will enable VPBank to expand its lending to small and medium businesses and boost financing for projects that help reduce carbon emissions
It will support the modernisation of Grupo Ruiz’s fleet with the rollout of more than 170 cleaner buses
They will cover investments in technologies such as thermal insulation, solar panels, geothermal heat pumps and water-efficient irrigation systems
Funding will be used to help developing countries deal with the impacts of climate change
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