An increase of nearly 30 per cent on the previous year, boosting projects that help developing countries cut emissions and address climate risks.
WASHINGTON, June 13, 2018 – Climate financing by the world’s six largest multilateral development banks (MDBs) rose to a seven-year high of $35.2 billion in 2017, up 28 per cent on the previous year.
This sixth edition of the Joint Report on Multilateral Development Banks’ Climate Finance provides an overview of financing committed by the African Development Bank (AfDB), the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Inter-American Development Bank Group (IDBG), and the World Bank Group (WBG), to climate change mitigation and adaptation projects and activities in 2016.
US $81 billion mobilized in 2015 to tackle climate change: Joint MDB report
Climate finance totalling US $81 billion was mobilized for projects funded by the world’s six largest multilateral development banks (MDBs) in 2015. This included $25 billion of MDBs’ direct climate finance, combined with a further $56 billion from other investors.
By Elena Akhmedova
CLIMADAPT will provide loans for energy and water efficiency, sustainable land management
WASHINGTON, June 16, 2015—The world’s six large multilateral development banks (MDBs) delivered over US$28 billion in financing last year to help developing countries and emerging economies mitigate and adapt to the challenges of climate change. The latest figures bring total collective commitments of the past four years to more than US$100 billion.
In 2014, the six banks together provided over US$23 billion dedicated to mitigation efforts and US$5 billion for adaptation work, according to the fourth joint report on MDB climate finance.
The Pilot Program for Climate Resilience is a global initiative in nine countries and two regional programs in several countries—including Tajikistan—that face exceptional risks to climate change. The program helps put countries on a climate-resilient development path consistent with their poverty reduction and sustainable development goals. Tajikistan’s program is administered by ADB, the European Bank for Reconstruction and Development, and the World Bank. It is being implemented in two phases and covers six priority investment areas.
Author(s): Craig Davies
Multilateral development banks deliver US$ 27 billion in climate change financing
Multilateral development banks (MDBs) provided almost US$ 27 billion worldwide, in financing to address the challenges of climate change in 2012, according to the second joint MDB report on climate finance. The report was released today, in line with the commitment by MDBs to enhance the transparency of their investments in climate change mitigation and adaptation.