In a significant step forward in the fight against climate change, the Global Capacity Building Coalition (was launched Saturday at COP28. This unprecedented global collaboration will work to significantly increase the availability and effectiveness of climate finance technical assistance programs for financial institutions in emerging markets and developing economies (EMDEs). The Global Capacity Building Coalition is well-positioned to play a leading role in unlocking climate finance for EMDEs. Kristalina Georgieva, Managing Director of the IMF said: “We welcome the creation of the Capacity Building Coalition on Climate Finance. That requires enhancing the technical assistance and capacity support financial institutions in developing countries receive – including to make it more responsive to demand and needs.

Source: Daily News Egypt December 03, 2023 05:19 UTC