European Bank for Reconstructionand Development - Northern

Published purpose

At the G7 Summit in May 2023, Canada announced a contribution of CAD 283 million to the European Bank for Reconstruction and Development (EBRD) for the High Impact Partnership on Climate Action, comprising $33.125 million in grants and $250 million in repayable contribution. This project fulfils an important part of Canada’s $5.3 billion international climate finance commitment over the period 2021 to2026. The High Impact Partnership on Climate Action (HIPCA) is a multi-donor program that combines commercial finance with concessional donor co-financing, policy engagement and technical assistance to unlock the right market conditions and draw in the private sector for tackling climate change and environmental degradation. This project aims to advance Ukraine’s transition towards a low-carbon, climate-resilient and environmentally compatible pathway in a manner that seeks to promote gender equality and economic inclusion. Project activities – through a $20 million portion of the grant contribution – include technical assistance and other grant support such as: (1) assisting with project preparation and implementation; (2) ensuring the integration of gender equality and inclusion; (3) enabling the design and delivery of policy dialogues, capacity-building and advisory services; and (4) providing investment or incentive grants.