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Ipswich Town sign Morocco defender Issa Diop from Fulham for £8.5m

Source : © European Union, 2026 - EP

Climate mitigation and adaptation require substantial investment to advance sustainable development. In low- and middle-income countries (LMICs), mobilising such finance is particularly challenging for small and medium-sized enterprises (SMEs) due to persistent market failures, including limited financial disclosure and weak credit-risk information. High upfront costs, uncertain returns and weak regulatory frameworks further constrain adoption of low-carbon technologies. While fiscal constraints and the capital-intensive trans­ition underscore the need for private capital, traditional bank financing is restricted by long project horizons, high risk and macroeconomic instability. Blended finance and guarantees are key instruments for mobilising private investment in LMICs. Blended finance combines concessional public resources with private or additional public capital to mitigate profitability risks, while guarantees reduce perceived risk by covering partial losses, particularly for non-commercial risks. This policy brief assesses their role in scaling SME climate finance, alongside their limitations and context-specific applicability. Evidence suggests that leverage effects, especially for blended finance, are more modest than often assumed and are context dependent; nonetheless, these instruments remain relevant for de-risking SME finance, contingent on improved design and implementation. The policy brief advances the following recommendations:

- Financial intermediaries should prioritise SMEs facing binding financing constraints that prevent projects with clear socio-economic and environ­mental benefits. Project selection should integrate financial and climate vulnerability, though assess­ment remains difficult in low-income countries (LICs). De-risking instruments should target specific constraints, with guarantees mitigating risks and blended finance supporting projects with insufficient risk-adjusted returns to attract private capital. Multilateral development banks (MDBs) and development finance institutions (DFIs) should ensure additionality, minimise concessionality and strengthen monitoring and transparency.
- MDBs and DFIs should better align donor incen­tives with effective risk-sharing and flexible finan­cing structures. Concessional senior loans dominate blended finance but have limited loss absorption, reducing effectiveness in high-risk environments. A more balanced mix, including subordinated debt, equity and guarantees, can improve risk allocation and crowd in private investors. Greater use of special purpose vehicles and off-balance-sheet structures can further expand financing capacity in fragile contexts.
- MDBs and DFIs should strengthen coordination, standardisation and local engagement. Frag­menta­tion in blended finance and guarantees increases complexity and transaction costs and deters institutional investors. Greater harmoni­sation across MDBs, DFIs and private investors would improve capital allocation and comple­mentarity, while standardised procedures and contracts would streamline project preparation and scaling in LMICs.
 Governments in LMICs should address structural constraints, with MDBs and DFIs providing com­plementary de-risking and capacity-building support. Weak investment climates, shallow finan­cial markets, poor project pipelines and weak credit information systems reduce the effective­ness of blended finance and guarantees, particu­larly in LICs. Governments should strengthen investment climates, deepen financial markets and improve SME capabilities, while MDBs and DFIs support local intermediaries and broader reforms.

Climate mitigation and adaptation require substantial investment to advance sustainable development. In low- and middle-income countries (LMICs), mobilising such finance is particularly challenging for small and medium-sized enterprises (SMEs) due to persistent market failures, including limited financial disclosure and weak credit-risk information. High upfront costs, uncertain returns and weak regulatory frameworks further constrain adoption of low-carbon technologies. While fiscal constraints and the capital-intensive trans­ition underscore the need for private capital, traditional bank financing is restricted by long project horizons, high risk and macroeconomic instability. Blended finance and guarantees are key instruments for mobilising private investment in LMICs. Blended finance combines concessional public resources with private or additional public capital to mitigate profitability risks, while guarantees reduce perceived risk by covering partial losses, particularly for non-commercial risks. This policy brief assesses their role in scaling SME climate finance, alongside their limitations and context-specific applicability. Evidence suggests that leverage effects, especially for blended finance, are more modest than often assumed and are context dependent; nonetheless, these instruments remain relevant for de-risking SME finance, contingent on improved design and implementation. The policy brief advances the following recommendations:

- Financial intermediaries should prioritise SMEs facing binding financing constraints that prevent projects with clear socio-economic and environ­mental benefits. Project selection should integrate financial and climate vulnerability, though assess­ment remains difficult in low-income countries (LICs). De-risking instruments should target specific constraints, with guarantees mitigating risks and blended finance supporting projects with insufficient risk-adjusted returns to attract private capital. Multilateral development banks (MDBs) and development finance institutions (DFIs) should ensure additionality, minimise concessionality and strengthen monitoring and transparency.
- MDBs and DFIs should better align donor incen­tives with effective risk-sharing and flexible finan­cing structures. Concessional senior loans dominate blended finance but have limited loss absorption, reducing effectiveness in high-risk environments. A more balanced mix, including subordinated debt, equity and guarantees, can improve risk allocation and crowd in private investors. Greater use of special purpose vehicles and off-balance-sheet structures can further expand financing capacity in fragile contexts.
- MDBs and DFIs should strengthen coordination, standardisation and local engagement. Frag­menta­tion in blended finance and guarantees increases complexity and transaction costs and deters institutional investors. Greater harmoni­sation across MDBs, DFIs and private investors would improve capital allocation and comple­mentarity, while standardised procedures and contracts would streamline project preparation and scaling in LMICs.
 Governments in LMICs should address structural constraints, with MDBs and DFIs providing com­plementary de-risking and capacity-building support. Weak investment climates, shallow finan­cial markets, poor project pipelines and weak credit information systems reduce the effective­ness of blended finance and guarantees, particu­larly in LICs. Governments should strengthen investment climates, deepen financial markets and improve SME capabilities, while MDBs and DFIs support local intermediaries and broader reforms.

Climate mitigation and adaptation require substantial investment to advance sustainable development. In low- and middle-income countries (LMICs), mobilising such finance is particularly challenging for small and medium-sized enterprises (SMEs) due to persistent market failures, including limited financial disclosure and weak credit-risk information. High upfront costs, uncertain returns and weak regulatory frameworks further constrain adoption of low-carbon technologies. While fiscal constraints and the capital-intensive trans­ition underscore the need for private capital, traditional bank financing is restricted by long project horizons, high risk and macroeconomic instability. Blended finance and guarantees are key instruments for mobilising private investment in LMICs. Blended finance combines concessional public resources with private or additional public capital to mitigate profitability risks, while guarantees reduce perceived risk by covering partial losses, particularly for non-commercial risks. This policy brief assesses their role in scaling SME climate finance, alongside their limitations and context-specific applicability. Evidence suggests that leverage effects, especially for blended finance, are more modest than often assumed and are context dependent; nonetheless, these instruments remain relevant for de-risking SME finance, contingent on improved design and implementation. The policy brief advances the following recommendations:

- Financial intermediaries should prioritise SMEs facing binding financing constraints that prevent projects with clear socio-economic and environ­mental benefits. Project selection should integrate financial and climate vulnerability, though assess­ment remains difficult in low-income countries (LICs). De-risking instruments should target specific constraints, with guarantees mitigating risks and blended finance supporting projects with insufficient risk-adjusted returns to attract private capital. Multilateral development banks (MDBs) and development finance institutions (DFIs) should ensure additionality, minimise concessionality and strengthen monitoring and transparency.
- MDBs and DFIs should better align donor incen­tives with effective risk-sharing and flexible finan­cing structures. Concessional senior loans dominate blended finance but have limited loss absorption, reducing effectiveness in high-risk environments. A more balanced mix, including subordinated debt, equity and guarantees, can improve risk allocation and crowd in private investors. Greater use of special purpose vehicles and off-balance-sheet structures can further expand financing capacity in fragile contexts.
- MDBs and DFIs should strengthen coordination, standardisation and local engagement. Frag­menta­tion in blended finance and guarantees increases complexity and transaction costs and deters institutional investors. Greater harmoni­sation across MDBs, DFIs and private investors would improve capital allocation and comple­mentarity, while standardised procedures and contracts would streamline project preparation and scaling in LMICs.
 Governments in LMICs should address structural constraints, with MDBs and DFIs providing com­plementary de-risking and capacity-building support. Weak investment climates, shallow finan­cial markets, poor project pipelines and weak credit information systems reduce the effective­ness of blended finance and guarantees, particu­larly in LICs. Governments should strengthen investment climates, deepen financial markets and improve SME capabilities, while MDBs and DFIs support local intermediaries and broader reforms.

DIW Energiewende-Monitor: Photovoltaik fällt hinter steigende Ausbauvorgaben zurück – Wärmepumpen und Elektrofahrzeuge gewinnen Marktanteile, kommen aber zu langsam voran – Strompreise zeigen wachsenden Flexibilitätsbedarf – Großbatterien wachsen Die Energiewende in Deutschland kommt weiter voran, ...

The Council imposed restrictive measures on one individual and five entities, that are part of the Russian military-industrial complex, and are involved in drone manufacturing.  

The High Representative issued a statement on behalf of the European Union on the occasion of the 12th anniversary of the downing of Malaysia Airlines Flight MH17.

Der Rat hat restriktive Maßnahmen gegen eine Person und fünf Organisationen verhängt, die Teil des russischen militärisch-industriellen Komplexes und an der Herstellung von Drohnen beteiligt sind.

Die Hohe Vertreterin hat eine Erklärung im Namen der Europäischen Union zum zwölften Jahrestag des Abschusses von Flug MH17 der Malaysia Airlines abgegeben.

A Tanács korlátozó intézkedéseket vezetett be egy olyan személlyel és öt olyan szervezettel szemben, aki, illetve amelyek az orosz katonai-ipari komplexum részét képezik és dróngyártásban vesznek részt.

A főképviselő nyilatkozatot tett az Európai Unió nevében a Malaysia Airlines MH17-es járata lelövésének 12. évfordulója alkalmával.

People will be able to chat without revealing their contact number once the new feature is rolled out.

Der Social-Media-Comedian T-Ronimo hat unter einem Beitrag einen Kommentar hinterlassen, der laut eines Blick-Lesers klare ethnische Herabsetzung und Hassrede enthält – er wurde auf Kosovo-Albanisch verfasst. Der Comedian nimmt Stellung.

L'avant-centre des Amazones du Bénin, Aude Gbedjissi s'engage désormais avec le club turc de Galatasaray, marquant ainsi un nouveau chapitre de sa carrière footballistique. Ce tournant décisif de l'Amazone intervient après trois belles saisons sous les couleurs du Rc Lens Féminin en France.

L'Amazone Aude Gbedjissi quitte la France et la D2 Féminine pour rejoindre la Turkcell women's football super league en Turquie. Elle vient de signer un contrat avec le club d'Istanbul, Galatasaray SK.
Ce transfert de la footballeuse fait suite à une saison remarquée sous les couleurs du Rc Lens Féminin où elle s'est imposée comme l'une des pièces maitresses de l'attaque artésienne, avec un total de 43 réalisations inscrites, toutes compétitions confondues, sous le maillot lensois. Sur les réseaux, Aude Gbedjissi n'a pas caché sa joie. « Heureuse et fière de rejoindre officiellement le Galatasaray Spor Kulübü », a-t-elle écrit, sûre de pouvoir travailler et de donner le meilleur d'elle-même pour de meilleurs résultats.
Mesurant le chemin parcouru jusque-là, la footballeuse a exprimé sa reconnaissance aux personnes ayant contribué à faire d'elle, « la joueuse et la femme » qu'elle est devenue. « Aujourd'hui, une nouvelle page s'ouvre. Prête à écrire la suite de l'histoire », a-t-elle conclu.
F. A. A.

Europa ist der Kontinent, der sich am schnellsten erwärmt. Und die Schweiz ist ein «Klima-Hotspot». Das sind die vier Gründe.

15-Stunden-Tage, ständiger Druck, Herzinfarkt mit 37: Für Christoph Frei ist das Limit erreicht. Der Inhaber der Wartegg zieht die Notbremse. Ein emotionaler Entscheid, denn der Landgasthof ist für ihn viel mehr als ein Restaurant.

Der Fall Patrick F. (57) erschüttert. Der Aargauer Ex-SVP-Grossrat soll zwei Frauen und eine 15-Jährige wehrlos gemacht und vergewaltigt haben. Der Umgang der Aargauer Behörden mit den Opfern verursacht heftige Kritik. Blick fragte bei den verantwortlichen Stellen nach.

Les registres d'inscription à la formation professionnelle à titre payant dans les Lycées techniques professionnels (LTP), les Lycées techniques agricoles (LTA) ainsi qu'à l'École de formation médico-sociale (EFMS) de Parakou et son annexe de Djougou sont ouverts depuis le 20 juillet et le resteront jusqu'au 4 septembre 2026.

Le ministère de l'Enseignement supérieur et de la Recherche scientifique invite les candidats remplissant les conditions requises à déposer leurs dossiers pour les rentrées scolaires 2026-2027, avec un large éventail de filières techniques, agricoles, numériques et médico-sociales. Lire le communiqué...

Le ministre de l'Economie et des Finances, Aristide Medenou, s'est entretenu, mardi 21 juillet 2026, à Cotonou avec une délégation de la Banque Européenne pour la Reconstruction et le Développement (BERD), conduite par sa directrice générale pour l'Afrique subsaharienne, Heike Harmgart.

Le Bénin et la Banque Européenne pour la Reconstruction et le Développement (BERD) ont examiné, mardi 21 juillet 2026 à Cotonou, les perspectives de renforcement de leur coopération, dans un contexte marqué par la poursuite des réformes économiques et des investissements structurants engagés par le Bénin.

C'est lors d'une audience entre le ministre de l'Economie et des Finances, Aristide Medenou et la délégation de la BERD conduite par sa directrice générale pour l'Afrique subsaharienne, Heike Harmgart.

Les discussions ont notamment porté sur les possibilités d'accroître l'appui de la BERD aux priorités nationales de développement, ainsi que sur les mécanismes susceptibles de renforcer l'efficacité et l'impact des financements destinés aux projets économiques.

Premier pays d'Afrique subsaharienne à avoir bénéficié de projets financés par la BERD, le Bénin entend poursuivre le développement de ce partenariat. L'audience a ainsi illustré la volonté commune des deux parties de consolider leur collaboration afin de soutenir une croissance durable, de favoriser les investissements et d'accompagner les réformes économiques en cours.
M. M.