European Investment Bank (EIB) joins CDRI
The European Investment Bank (EIB) recently joined the Coalition for Disaster Resilient Infrastructure (CDRI). CDRI is led by India. EIB-CDRI coalition is aimed at limiting the destruction caused due to climate change.
As a part of this;
- EIB will work in association with national governments, multilateral development banks, UN agencies, and private sector for encouraging the fast development of infrastructure which are resilient to climate change and natural disasters in developing as well as developed countries.
- It will provide advisory and financial support to members of CDRI.
- It will also make sure that, members of CDRI get benefits from all the relevant EU initiatives.
- EID seeks to work with CDRI members, in a bid to unlock the benefits of EU initiatives, that are aimed at attaining sustainable global connectivity like Global Gateway as well as climate action initiatives like EU Green Deal.
EIB will work as “EU climate bank”, within the CDRI. It will share knowledge through its newly deployed development branch- “EIB Global”. It will also focus on developing standards and certification, which are required for disaster-resilient infrastructure. EIB will also help CDRI in evolving the research & knowledge-management capabilities of its members.
The Coalition for Disaster Resilient Infrastructure (CDRI) was launched by India in 2019, at the UN Climate Action Summit. It allows the members to share knowledge and resources as well as help countries in meeting the UN Sustainable Development Goals’ (SDGs).
About European Investment Bank
EIB is the investment bank of European Union. It is possessed by the EU Member States. It is among the largest supranational lenders worldwide.
Month: Current Affairs - July, 2022
Category: International / World Current Affairs
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