ECB President Christine Lagarde said that an annual investment of 620 billion Euros is needed to accelerate the transition to clean energy. The publication reports that Business News Network.
According to him, to achieve sustainable development goals, these funds need to be allocated by governments, institutions and businesses.
Experts say Lagarde highlights the economic aspects of combating climate change. Substantial financing should be an important element of Europe’s strategy to combat global warming.
Additionally, the ECB plans to intensify its “green” lending operations. Especially in the near future, double interest may be implemented.
Luis de Guindos, formerly Vice President of the European Central Bank warnedIt is predicted that the euro zone economy, which experienced stagnation at the end of 2023, may continue to struggle in 2024. Despite the slowdown in economic growth and the first signs of correction in the employment market, the slowdown in inflation in the region is expected to be less pronounced. Referring to incoming data, De Guindoza drew attention to the uncertainty and worsening outlook. The World Bank also lowered its growth forecast for the eurozone economy over the next two years.
former president of the ECB stated It’s about the reduction in savings surplus around the world.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.