EIB joins coalition to support sustainable development

The European Investment Bank (EIB), the bank of the European Union, has reportedly joined the Coalition for Disaster Resilient Infrastructure (CDRI). The EIB becoming a member of the CDRI is said to facilitate faster knowledge sharing, establishment of standards, and certification.

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Other members of the partnership include national governments, UN agencies, multilateral development banks and the private sector to promote the development of infrastructure relating to climate change and natural disasters in all countries.

The EIB says that they are ready to work with CDRI members to unlock the benefits of EU initiatives aiming to achieve sustainable global connectivity, such as the Global Gateway, and climate action initiatives such as the EU Green Deal. As the EU climate bank, the EIB says they will work within CDRI on sharing knowledge via its newly deployed development branch, EIB Global. 

Multilateral development banks like the EIB will have an important role in mobilising private and public finance for climate adaptation projects.

EIB President, Werner Hoyer, said, “I welcome the initiative by the Indian government to create CDRI, a forum for international cooperation on building a global economy resilient to climate change and natural disasters. As part of Team Europe, the EIB will offer advisory and financial support to CDRI members and ensure they can benefit from all relevant EU initiatives. We share a common vision of a green, sustainable and resilient world, built on cooperation, knowledge exchange and mutual respect. I look forward to translating this shared vison into concrete projects we can all benefit from.”