2025 · Current AffairsPrevious Year Question
Q15.
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)
Answer

A

Explanation

Asian Development Bank (ADB) launched a Nature Finance Hub for Asia and the Pacific at COP28 aims to attract at least $2 billion into investment that incorporate nature-based solutions, focused on capital markets and other of private capital. The hub will deploy a range of measures to reduce risks in nature-based projects such as guarantees, impact-linked and blended finance options. The hub is about $1 billion in such de-risking funds from development partners with advanced discussions with several entities. Hence option (a) is the answer.