This report, International Public Climate Finance Flows To The Southern And Eastern Mediterranean Countries in 2017, is a part of the effort by the UfM Secretariat to obtain a better overview of climate finance flows to the Southern and Eastern Mediterranean (SEMed) region in recent years. More precisely, the aim of this study is to analyse international public climate finance flows to fifteen SEMed countries, and to provide an overview on these individual countries’ shares of the 100 billion USD climate finance pledge under the United Nations Framework Convention on Climate Change (UNFCCC).
The results of the report show that in 2017, USD 8.1 billion of climate finance was committed to the SEMed region, comprising 12% of the USD 66.8 billion mobilised worldwide. Out of the USD 8.1 billion, Multilateral Development Banks contributed USD 4.8 billion (59%), particularly through loans from the European Bank for Reconstruction and Development (EBRD), International Bank for Reconstruction and Development (IBRD), and International Finance Corporation (IFC). Bilateral climate-related ODA amounted to USD 2.9 billion (36%), dominated by loans from France, Germany, the EU and Japan, while climate related funds contributed 0.39 billion USD (5%).
Egypt, Turkey, and Tunisia were the top-3 recipients of climate finance, each with commitments of over 1 billion USD, altogether comprising 70% of total commitments (USD 5.6 out of 8.1 billion). The lowest commitments were identified for Algeria and Syria, as well as Libya (totalling USD 32 million).
The main sectors receiving finance were renewable energy generation (USD 1.6 billion), water supply and sanitation (USD 1.4 billion), as well as transport and storage (USD 1.2 billion). Most of the funding went to mitigation activities (renewable energy generation and transport), whilst adaptation activities received substantially fewer investments overall (the focus being water and sanitation with USD 1.4 billion as well as agriculture with USD 626 million).