TBILISI: The International Finance Corporation (IFC) will invest in projects in full compliance with the Paris Agreement in the next two years, International Finance Corporation (IFC) Regional Manager for the South Caucasus, Ivana Fernandes Duarte said, Trend reports.

She made the statement during the panel discussion on financing greener value chains in the CAREC region (Central Asia Regional Economic Cooperation Program).

“Climate finance requires a significant amount of work. It is necessary to prepare packages of programs and projects and constantly assess financial risk,’ she said.

Duarte pointed out that the IFC allocated 44 percent of its funds to climate change and more than 70 percent to renewable energy.

‘In the next two years, we will invest in projects in full compliance with the Paris Agreement. In terms of individual countries, Uzbekistan has done a lot of work on climate change mitigation, and Pakistan has built wind and hydropower plants. There is a lot of interest in engaging the private
sector in CAREC in renewable energy,’ she said.

Source: Trend News Agency