$66 billion climate finance committed by MDBs in 2020
Major multilateral development banks including ADB committed $66 billion in 2020 from $61 billion in 2019. Around $38 billion (58% ) has been committed for low to middle-income countries. This is according to the 2020 Joint Report on Multilateral Development Banks’ Climate Finance published on 30 June 2021.
Total cumulative MDB climate finance for the past 6 years has reached $257 billion, $186 billion of which was directed at low- and middle-income economies.
In the world’s bid for zero emissions and its pursuit of Paris Goals, MDBs are doing their share in aligning their investment activities with global climate goals by supporting developing countries' transition to low-carbon and climate-resilient pathways through climate finance.
The 2020 MDB report, coordinated by the European Bank for Reconstruction and Development (EBRD), combines data from the African Development Bank, ADB, the Asian Infrastructure Investment Bank (AIIB), the EBRD, the European Investment Bank, the Inter-American Development Bank Group, the Islamic Development Bank and the World Bank Group. AIIB data is fully incorporated for the first time.