ADB announces US$100 billion funds to tackle global climate change
The Asian development bank (ADB) has declared a new US$100 billion fund for its member countries to tackle climate change.
From now on, ADB has expressed its high ambition to extend this fund to the concerned countries by 2030.
Masatsugu Asakawa, President of ADB, announced that The ADB will provide Us$100 billion in funding for the climate sector from 2019 to 2030 at a press release on October 14, 2021.
He said the Asia and the Pacific situation is deteriorating daily in the fight against climate change. To this end, various international organizations call on the world’s developed countries to provide climate finance. By 2030, ADB will raise US$100 billion in climate finance from its funds.
The ADB declared in 2018 that it would spend US$75 billion on climate change, later boosted to USUS$80 billion. The amount has increased to US$100 billion as of today’s announcement.
The Asian Development Bank (ADB) strives to address climate change challenges by tackling the interconnected problems of the coronavirus pandemic and the impending climate disaster. It is currently taking steps to achieve a sustainable, resilient, and inclusive recovery.