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IDB and Nordic Development Fund partner to help Latin American and Caribbean cities to address climate change

MONTEVIDEO, Uruguay – The Nordic Development Fund (NDF) will provide a contribution of 2.1 million euros (US$2,780,000) to support an Inter-American Development Bank (IDB) project to execute climate change action plans in emerging and sustainable cities in Latin America and the Caribbean.

NDF resources will be used to finance the development of climate change adaptation and mitigation action plans for midsize cities in Bolivia, Honduras and Nicaragua.

The agreement was signed during the IDB’s annual meeting in Montevideo between IDB President Luis Alberto Moreno and Satu Santala, NDF’s Chair of the Board, and NDF Managing Director, Helge Semb.

The project builds on a special program and a Multidonor Fund for the IDB’s Sustainable Emerging Cities Initiative, which will help countries in Latin America and the Caribbean address development challenges such as environmental sustainability and climate change, sustainable urban development, governance and fiscal sustainability.