In a pledge to continue stepping-up its commitment to climate change
mitigation and adaptation action, the Eastern and Southern African Trade
and Development Bank (TDB) signed a Memorandum of Understanding today
with the UN Environment Programme (UNEP).
The MOU effectively establishes a framework of cooperation through
which the two institutions can collaborate in a number of areas critical
to the global environmental agenda.
In the field of clean energy finance, TDB and UNEP will work to
enhance investment opportunities for both public and private finance to
support the dissemination of clean energy technologies. This will
include supporting the early stage development and project finance of
renewable energy projects, as well as the development of financing
mechanisms to allow access to smaller-scale sustainable energy and
energy-efficient appliances for household and productive use.
Additionally, the two institutions will cooperate on supporting
eligible TDB Member States to access Green Climate Fund resources to
enable them to adapt to the changing climate and develop along a
low-emission pathway.
“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 realize the international commitment to support Africa to grow
and develop sustainably," said Admassu Tadesse, TDB President and Chief
Executive.
Michael Awori, TDB Chief Operating Officer, added that “our
commitment is evidenced by the fact that 70% of our power sector
portfolio is in renewable energy. With this track record, we are the
right partner with whom to co-finance and support more sustainable
growth and development projects across various sectors.”
“While Eastern and Southern African economic growth continues to be
strong, there is great potential to harness clean energy in the region.
UNEP and TDB are partnering to support wide dissemination of clean
energy technologies and unlock the financial resources needed to meet
the challenges of the 2030 Agenda for Sustainable Development,” said
Joyce Msuya, Deputy Executive Director of UNEP.
NOTES TO EDITORS
About the Eastern and Southern African Trade and Development Bank
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is a multilateral, treaty-based development financial institution, with assets of USD 6 bn. The Bank’s mandate is to finance and foster trade, regional economic integration and sustainable development through trade finance, project and infrastructure finance, asset management and advisory services. The Bank approaches its interventions in a manner that pro-actively supports sustainable development, including the reduction of climate risks and expansion of clean energy – in line with the Paris Agreement and SDG commitments linked to environmental protection. To date, 70% of TDB’s energy portfolio is in renewables and half of its overall portfolio directly and indirectly contributes to SDGs.
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is a multilateral, treaty-based development financial institution, with assets of USD 6 bn. The Bank’s mandate is to finance and foster trade, regional economic integration and sustainable development through trade finance, project and infrastructure finance, asset management and advisory services. The Bank approaches its interventions in a manner that pro-actively supports sustainable development, including the reduction of climate risks and expansion of clean energy – in line with the Paris Agreement and SDG commitments linked to environmental protection. To date, 70% of TDB’s energy portfolio is in renewables and half of its overall portfolio directly and indirectly contributes to SDGs.
About UN Environment Programme
The United Nations Environment Programme (UNEP) is the leading global environmental authority that sets the global environmental agenda, promotes the coherent implementation of the environmental dimension of sustainable development within the United Nations system, and serves as an authoritative advocate for the global environment. UNEP’s mission is to provide leadership and encourage partnership in caring for the environment by inspiring, informing, and enabling nations and peoples to improve their quality of life without compromising that of future generations.
The United Nations Environment Programme (UNEP) is the leading global environmental authority that sets the global environmental agenda, promotes the coherent implementation of the environmental dimension of sustainable development within the United Nations system, and serves as an authoritative advocate for the global environment. UNEP’s mission is to provide leadership and encourage partnership in caring for the environment by inspiring, informing, and enabling nations and peoples to improve their quality of life without compromising that of future generations.
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