Connect with us

Hi, what are you looking for?


Clean Power

Renewable Energy Projects Secured $6 Billion From Multilateral Banks In 2015

Renewable energy projects across the world received funding worth $6 billion in 2015 from multilateral banks, a recent report has revealed.

The World Bank, The European Investment Bank (EIB), the Inter-American Development Bank (IDB), the Asian Development Bank (ADB), the African Development Bank (AfDB), and the European Bank for Reconstruction and Development (EBRD) provided a total of $25 billion in climate finance across the world.

Around 20% of this investment (i.e., $5 billion) went into adaptation projects, while the remaining 80% was invested into mitigation projects.

The World Bank Group — which includes International Finance Corporation, World Bank, and Multilateral Investment Guarantee Agency — led with a total investment of $10.7 billion, followed by the European Investment Bank with $5.1 billion of investment.

The renewable energy sector was the largest beneficiary of the mitigation investment made by these six banks. The sector received a total of $6 billion. The transportation sector received $5.3 billion, followed by energy efficiency at $2.8 billion.

Within the mitigation investment, non-EU Europe and Central Asia received 24% (or $4.7 billion) of the total $20 billion, while East Asia and Pacific, EU11, and South Asia received around $3 billion each. The Middle East and North Africa combined with sub-Saharan Africa received a total investment of almost $3 billion.

With solar power tariffs becoming increasingly competitive across the world – be it the Middle East, India, or Latin America – project developers are expected to look for more funding from multilateral banks which provide debt funding at very low cost.

Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

An avid follower of latest developments in the Indian renewable energy sector.


#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.


Support our work today!

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports




Tesla News

EV Reviews

Home Efficiency

You May Also Like

Clean Transport

Last Sunday, I had the pleasure of spending some time with some of the key players in Kenya’s nascent electric mobility scene. Ecobodaa had...


BMW has traditionally been the the number one searched brand in South Africa. South Africans love BMWs. The legendary BMW E30 325, popularly known...

Clean Transport

South Africa’s Autotrader Car Industry Report Mid-Year Report January 2022 – June 2022  has just been released. In the first 6 months of this...


The power of the renewable energy lobby in Arizona will be tested as the US Senate (finally) votes on the Inflation Reduction Act of...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.