Q. Which one of the following launched the “Nature Solutions Finance Hub for Asia and the Pacific”?
(a) The Asian Development Bank (ADB)
(b) The Asian Infrastructure Investment Bank (AIIB)
(c) The New Development Bank (NDB)
(d) The International Bank for Reconstruction and Development (IBRD)
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Answer & Explanation:
✅Correct Answer: (a) The Asian Development Bank (ADB)
Explanation:
The Asian Development Bank (ADB) launched the Nature Solutions Finance Hub for Asia and the Pacific during COP28. The initiative aims to mobilise at least USD 2 billion for investment programmes that integrate nature-based solutions (NbS) into development and climate action projects.
The Hub focuses on:
- Leveraging capital markets and private sector investment
- Using blended finance, guarantees, and impact-linked payments
- Reducing risks to make NbS projects more attractive to investors
ADB plans to secure around USD 1 billion in de-risking capital from global development partners and is already in advanced discussions with multiple stakeholders to support this objective.
Why Other Options Are Incorrect
- (b) AIIB, (c) NDB, and (d) IBRD are all major multilateral development banks involved in infrastructure and development finance.
- However, none of them launched the Nature Solutions Finance Hub for Asia and the Pacific at COP28.
- The initiative is exclusively credited to the Asian Development Bank (ADB).