COP 28: EIB and AllianzGI Announce New Capital Commitments to the Emerging Market Climate Action Fund (EMCAF)

The European Investment Bank (EIB) and Allianz Global Investors (AllianzGI) announced new capital commitments to the Emerging Market Climate Action Fund (EMCAF). The United Kingdom Foreign, Commonwealth & Development Office (FCDO) will commit €10 million (£9 million). In addition, on behalf of Germany’s Ministry for Economic Affairs and Climate Action, Kreditanstalt für Wiederaufbau (KfW) intends to top up its existing commitment with an additional €33 million. Including these new commitments, EMCAF will likely hold its third close with a total of €385 million in the coming weeks. Anchor investors in EMCAF since the start include the governments of Germany and Luxembourg, the Nordic Development Fund, Allianz, Folksam Group and EIB.

Read the full press release on the EIB website here: COP 28: EIB and AllianzGI announce new capital commitments to the Emerging Market Climate Action Fund (EMCAF)

Cover photo courtesy of EIB