As it moves to increase its climate adaptation finance
, the European Bank for Reconstruction and Development (EBRD) has launched the EBRD Climate Adaptation Action Plan
(CAAP) at COP27, the global climate summit taking place in Sharm el-Sheikh, Egypt.
Until Russia went to war on Ukraine
in February, Ukraine was known as the “breadbasket of Europe”. One of the largest grain exporters in the world, it provided about 10 per cent of globally traded wheat and corn and 37 per cent of sunflower oil, United Nations figures show. The yellow and blue of its flag mimic its rolling golden fields under blue summer skies.
The European Bank for Reconstruction and Development (EBRD) has announced its intention to double the mobilisation of private sector climate financing by 2025.