The Federal Administration has allocated an aggregate sum of 9.9 billion Euros for distribution to international entities.
In 2023, Germany dispensed a grand sum of 9.9 billion euros to various nations as per international climate finance regulations. This information was disclosed by the German government to the EU Commission on a Friday, as multiple Berlin-based ministries revealed. With this contribution, Germany has honored its pledge to provide developing and emerging countries with an annual 100 billion USD for climate protection and adaptation initiatives. Svenja Schulze, Federal Minister for Economic Cooperation and Development, asserted, "Germany stays committed as a reliable ally. Climate change adaptation remains a priority."
Out of the 9.9 billion euros, a substantial 5.7 billion were allocated from the national budget. Compared to the 6.4 billion euros provided in 2022, there was a decrease in budgetary contributions from the development ministry. Despite this reduction, funds sourced through loans backed by the state, such as those from KfW and DEG, saw a significant increase. Specifically, these loans for energy transition projects surged by 700 million euros to reach a total of 3.8 billion euros in 2023, contrasting the 2022 figure. Robert Habeck, Federal Minister for Environment, Nature Conservation, Nuclear Safety, and Consumer Protection (from the Greens), affirmed, "Transitioning our energy supply remains our primary focus. Through the projects we finance, we guide numerous countries towards concretely expanding renewable energy, hydrogen production, and sustainable, eco-friendly infrastructure."
The decrease in budgetary contributions from the development ministry in 2023, amounting to 6.4 billion euros from the previous year, did not deter the significant increase in loans for energy transition projects. These loans, backed by the state, including those from KfW and DEG, incremented by 700 million euros, totaling 3.8 billion euros, thereby reflecting Germany's provision of financial support for climate change adaptation initiatives beyond its budgetary allocations.
Germany's 2023 provision of 3.8 billion euros in loans for energy transition projects, exceeding the budgetary contribution, reaffirms its commitment to provisioning resources necessary for emerging nations to transition towards renewable energy sources and sustainable infrastructure, as per its pledge in international climate finance regulations.
