"The EIB is exploring ways to scale up climate finance," it said in a statement on Friday at an international summit being held in Paris. EIB Global, the arm of the bank that lends outside the EU, invests around 10 billion euros ($10.87 billion) a year. It is estimated that roughly half of that money goes to countries that could be eligble for the new clauses. "We know that more climate disasters are coming," Maria Shaw-Barragan, a Director of Lending the bank told Reuters. "So it makes sense for the MDBs, and bilateral lenders, to include these clauses in order to give countries some breathing space."

---

Persons: Maria Shaw, Barragan, Marc Jones, Mark Heinrich, Louise Heavens Organizations: European Investment, LONDON, European Investment Bank, World Bank, EIB, Reuters, Thomson Locations: Paris