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Organisation

European Bank for Reconstruction and Development (EBRD)

Description:

The European Bank for Reconstruction and Development is an international financial institution that supports projects from central Europe to central Asia, including the Baltic Sea Region states Estonia, Latvia, Lithuania, Poland and Russia. The EBRD is owned by 63 countries, the EU and the European Investment Bank. It fosters transition towards open and democratic market economies through investment and technical cooperation. The Bank invests primarily in private sector clients whose needs cannot be fully met by the market, by providing loans, equity participation and guarantees to companies of all sizes and in a wide range of sectors. Climate change is included as an important component. Accordingly, a pioneering technical cooperation assignment was launched in 2009 to develop approaches for integrating climate risk management and adaptation into project appraisal and development. The Bank can build climate resilience into its investments through: "hard" adaptation measures, for example, physical modifications and additional infrastructure/technology, as well as through "soft" adaptation measures, for example, adaptive management such as improved flood or hydrological monitoring, emergency response plans adaptation measures.

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