Green future: Municipal loan starts investments for renewable energies
Green future: Municipal loan starts investments for renewable energies
An important step towards a greener future: Today, the municipal loan Austria AG has issued a bond of over 200 million euros in order to advance the investment in renewable energy projects in Central and Eastern Europe. In close cooperation with the International Finance Corporation (IFC) and Asian Infrastructure Investment Bank (AIIB), this initiative is intended to support the energy transition in countries such as Romania, Poland, Hungary and Turkey. According to Sebastian Firlinger, interim CEO of the municipal loan, this cooperation is strengthened by the common commitment to sustainability.
The cooperation aims to expand the decarbonization efforts in the region, in particular by financing wind power projects. "The support of financial institutions such as the municipal loan enables us to use their know-how to promote green change," said Vittorio di Bello, regional director of the IFC for financial institutions in Europe. The investment will make it possible to mobilize important funds for renewable energy in Bulgaria, Poland and Romania in order to diversify the energy mix in these countries and to manage the challenges of the energy transition.
visionary partnership for sustainable development
With the help of this initiative, the resilience of the electricity sectors is to be significantly strengthened, while the EU climate goals are promoted at the same time. The IFC is pursuing a clear strategy: the creation of sustainable, inclusive growth opportunities to counter the global challenges such as poverty and climate change, such as "https://www.ifc.org/en/about/leadership/makhtar-diop"> Makhtar diop , the management director of the IFC. Under its leadership, the IFC has strengthened the focus on innovative financing solutions in order to direct private capital flows into areas such as renewable energies. These measures not only enable the support of existing projects, but also create new economic opportunities for communities in developing countries.The challenges in the region are considerable because the use of renewable energies is currently still behind the EU goals, where only 14–19% of the total energy consumption comes from such sources. Therefore, considerable investments are necessary to reach the ambitious climate goals by 2030. The new partnership between municipal loan, IFC and AIIB could create the basis for sustainable infrastructural development in this strategically important region.
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| Ort | Wien, Österreich |
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