U.S Climate Portfolio Reaches New Milestones
The U.S. Trade and Development Agency announced that it has met and exceeded its commitment under the April 2021 U.S. International Climate Finance Plan to dedicate $60 million through 2024 to advance climate-smart infrastructure solutions in emerging economies.
USTDA reached this milestone more than one year early by developing a clean energy and transportation portfolio that now exceeds 60 activities that are designed to help leverage nearly $70 billion in climate finance and support more than $16 billion in U.S. exports to emerging economies around the world. USTDA funded these activities under its Global Partnership for Climate-Smart Infrastructure, which President Biden launched in April 2021.
“For thirty years, USTDA has worked with our partners in emerging economies to help deploy U.S. solutions to advance their sustainable infrastructure priorities,” said Enoh T. Ebong, USTDA’s Director. “In 2021, we launched the Global Partnership for Climate-Smart Infrastructure to connect U.S. industry to major clean energy and transportation infrastructure projects in emerging economies. Within two years we exceeded our three-year programming target by 25%. The overwhelming response to our Partnership reflects an accelerated need for bankable climate infrastructure projects in emerging economies. It also reflects USTDA’s considerable global outreach efforts and its place as one of the world’s preeminent and most trusted project preparation facilities.”
In addition to the U.S. International Climate Finance Plan, USTDA’s climate programming advances the President’s Plan for Adaptation and Resilience (PREPARE) to support infrastructure that addresses partner countries’ adaptation needs, and the U.S. commitment to the international Global Methane Pledge for reduction of global methane emissions by 2030.
For information on activities that USTDA recently funded under the Partnership, please review our fact sheet.