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Rwanda and partners to seek further 300 million euros for climate resilience

Rwanda and partners to seek further 300 million euros for climate resilience

RWANDA and international development banks plan to raise an extra 300 million euros ($328.86 million) to help the country adapt to a changing climate, the International Monetary Fund (IMF) said. In April, the IMF said it had allowed for a disbursement of $98.6 million of an initial $319 million. It said on Thursday, the new support would build on that and the Rwandan government's fund-raising efforts would be helped by France's Agence Française de Développement (AFD), the European Investment Bank (EIB), Italy's Cassa Depositi e Prestiti (CDP), and the International Finance Corporation (IFC). The proceeds will help businesses in Rwanda to access…
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Fund to cut emissions in developing world cities launched

Fund to cut emissions in developing world cities launched

A new multilateral finance fund that aims to cut carbon emissions and improve conditions in developing-world cities, has been launched. Implemented by the World Bank and the European Union's lending arm, the European Investment Bank, the City Climate Finance Gap Fund aims to unlock at least 4 billion euros ($4.66 billion) for low-carbon and climate-resilient projects. Cities already account for 70% of global CO2 emissions, but with 2.5 billion more people expected to move to them by 2050, and Africa alone expected to see a 700% increase in urban land cover by 2030, limiting the climate impact will be vital.…
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