European Investment Bank Unveils Global Health and Climate Initiatives at UN General Assembly

European Investment Bank Unveils Global Health and Climate Initiatives at UN General Assembly

(IN BRIEF) At the 79th United Nations General Assembly, European Investment Bank (EIB) President Nadia Calviño will announce new initiatives focused on global health and climate finance. The EIB, in collaboration with partners like the Gates Foundation and WHO, will launch new plans to improve women’s health and primary healthcare. Additionally, Multilateral Development Banks (MDBs) reported a record $125 billion in climate finance for 2023. The EIB delegation will participate in various events, including discussions on climate finance and a new health platform, aimed at addressing global challenges such as healthcare access and climate resilience.

(PRESS RELEASE) LUXEMBOURG, 21-Sep-2024— /EuropaWire/ — The European Investment Bank (EIB), led by President Nadia Calviño, will play a key role at the 79th United Nations General Assembly (UNGA) in New York, focusing on initiatives in global health and climate finance. The EIB is set to unveil new strategies to boost investment in these areas, alongside other global leaders and partners.

During this gathering, President Calviño and EIB Vice-Presidents Ambroise Fayolle and Thomas Östros will work closely with United Nations agencies, Multilateral Development Banks (MDBs), and private sector representatives to explore collaborative efforts for addressing some of the world’s most pressing challenges. A central focus will be on women’s health and primary healthcare, with the EIB set to launch a new partnership with the Gates Foundation and the World Health Organization (WHO) to strengthen these sectors.

President Calviño emphasized the importance of this global cooperation, saying, “At the UN Summit of the Future, we aim to contribute solutions that build stronger, more inclusive, and resilient multilateralism. Our new initiatives are designed to tackle critical areas like primary healthcare, women’s health, and climate resilience, helping to create meaningful impact in regions beyond the EU.”

MDBs, including the EIB, have also reported a record $125 billion in climate finance for 2023, nearly doubling the mobilized private sector funding to $101 billion from 2022. The overall contribution represents more than twice the level achieved in 2019 when MDBs first committed to increasing climate finance during the United Nations Secretary General’s Climate Action Summit.

EIB Vice-President Ambroise Fayolle, who oversees Climate Action and Just Transition, highlighted the significance of this collective effort: “The $125 billion in climate finance demonstrates the power of MDBs working together to accelerate global climate action. As the largest multilateral lender for climate projects, the EIB will continue to support innovative technologies, climate adaptation efforts, and a fair transition for vulnerable communities affected by climate change.”

On September 23, the EIB and WHO will co-host a high-level roundtable to introduce the new Health Impact Investment Platform, which aims to enhance financing for primary healthcare, including community-based health and vaccination programs. This event, which will be livestreamed, will focus on boosting country-level health interventions.

Vice-President Thomas Östros, responsible for Health Financing and Energy, reflected on the lessons from the COVID-19 pandemic, stating, “Our coordinated response during the pandemic showcased what we can achieve when we work together. Moving forward, we will introduce new initiatives that I believe will significantly improve the health outcomes of communities around the world.”

The EIB delegation will engage in multiple events surrounding UNGA79. On September 22, President Calviño and Vice-President Fayolle will participate in a Project Syndicate panel on climate finance, alongside international leaders such as Prime Minister Mia Amor Mottley of Barbados, Chilean President Gabriel Boric, and Brazilian Environment Minister Marina Silva. On September 23, President Calviño will also participate in a live discussion with WHO Director-General Dr. Tedros Ghebreyesus, which will be streamed as part of the SDG Media Zone activities.

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It is active in more than 160 countries and makes long-term finance available for sound investment in order to contribute towards EU policy goals.

EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance.  EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.

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SOURCE: European Investment Bank