Latortue: ADB climate finance reaches record high

The Asian Development Bank could direct $100 billion over the next decade, Alexia Latortue, United States Assistant Secretary of the Treasury for International Markets, said during an event on the evolution roadmap of ADB as part of the 57th annual meeting of the bank in Tbilisi.

According to Report's correspondent from Tbilisi, this means a 40% increase in lending.

She noted that ADB is particularly active in innovative financing mechanisms, considering the use of guaranteed platforms to attract more funds to combat climate change.

Latortue stressed that the bank has a climate action plan, adding that ADB's climate change targets have reached a record level of $9.5 billion.