EIB Supports G20's Response to COVID-19 and Climate Change

Strategic Insights -

A European Investment Bank (EIB) delegation led by Vice-President Gelsomina Vigliotti attended the G20 finance ministers and central bank governors meeting in Jakarta, Indonesia, to support the formulation of the G20's response to two major economic challenges: COVID-19 and climate change. The meeting, held under the motto "Recover Together, Recover Stronger," brought together financial leaders from the 20 largest global economies to exchange views on global economic issues, global health architecture, and ways to strengthen the global economy.

Key Takeaways:

  • The EIB plays a key role in delivering effective solutions for the major challenges of today, including climate action, the COVID-19 recovery, and the green economic transformation.
  • Multilateral development banks can provide long-term financing and technical support, as well as a crucial link between the public sector and private investors.
  • The EIB will work to steer these banks to help the Indonesian G20 Presidency deliver on its "Recover Together, Recover Stronger" objective and secure a green and sustainable tomorrow for future generations.
  • The EIB is the world's leading financier of climate action projects, a pioneer in innovative, green financial instruments, and has decades of experience in financing infrastructure projects in the European Union and around the world.
  • Investments in infrastructure must support climate action, and the EIB will continue its engagement with the G20 on infrastructure investment.
  • The EIB Group supports Indonesian President Joko Widodo's call for the country to transition towards a sustainable green economy and is looking to back climate action investments in Indonesia as part of Team Europe and through EIB Global.
  • The EIB is also ready to back the Indonesian government's plans to rehabilitate some 600,000 hectares of degraded mangroves vital ecosystems that will help tackle climate change by 2024.
  • The EIB will chat the group of heads of multilateral development banks at the G20 under the leadership of President Werner Hoyer, who is also the chair of the D20 Long-term Investors Club (D20-LTIC).
  • The EIB will attend various ministerial and working-level meetings organised by the Indonesian G20 Presidency, providing a multilateral development bank point of view on core issues.

Statistics:

  • 600,000 hectares of degraded mangroves to be rehabilitated by the Indonesian government by 2024 to tackle climate change.
  • The EIB is the world's leading financier of climate action projects.
  • The EIB has decades of experience in financing infrastructure projects in the European Union and around the world.
  • 14-15 July 2022: The second infrastructure investors conference is planned to take place in Jakarta, in close cooperation with the Indonesian G20 Presidency.

Sources:

  • European Investment Bank (EIB)
  • G20 finance ministers and central bank governors meeting in Jakarta, Indonesia
  • Indonesian Finance Minister Sri Mulyani Indrawati
  • Indonesian President Joko Widodo
  • EIB Group
  • D20 Long-term Investors Club (D20-LTIC)