The Caribbean Development Bank and IDB Invest are two of the six new recipients of the Multilateral Development Banks Challenge Fund (MDB Challenge Fund), a US$5.25 million fund launched by the Gates Foundation, Open Society Foundations, and The Rockefeller Foundation. The Caribbean Development Bank will use its grant to develop a new risk mitigation instrument for MDBs to invest in green infrastructure projects. IDB Invest will use its grant to develop a new platform that will help MDBs to share information and best practices on climate finance.
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