MDBs’ climate finance in low- and middle-income countries reaches $41.5 billion in 2019

Climate financing by seven of the worlds largest multilateral development banks (MDBs) accounted for $61.6billion in 2019, of which $41.5billion (67%) was in low- and middle-income economies, according to the 2019 Joint Report on Multilateral Development Banks Climate Finance.

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https://www.eib.org/press/all/2020-220-mdbs-climate-finance-in-low-and-middle-income-countries-reaches-usd415-billion-in-2019

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Friday, August 7, 2020

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Renewable energy commercialization, Climate Finance, Ethical investment, Global warming, Development finance institution, Nature, Natural environment, Articles

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Climate financing by seven of the worlds largest multilateral development banks (MDBs) accounted for $61.6billion in 2019, of which $41.5billion (67%) was in low- and middle-income economies, according to the 2019 Joint Report on Multilateral Development Banks Climate Finance.
It now provides data on MDB climate finance commitments beyond those directed solely at developing and emerging economies, but with the focus remaining on low- and middle-income countries.
In 2019, the Asian Infrastructure Investment Bank (AIIB) also joined MDB working groups, and its data are presented separately within the current report.
In 2019, the MDBs reported a further $102.7billion in net climate co-finance investments from the public and private sector taking total climate activity financed in the year to $164.3billion.
The report shows that the MDBs are on track to deliver on their increased climate finance levels.
The MDBs have reported on climate finance since 2011, based on a jointly developed methodology for climate finance tracking.
The MDBs provision of climate finance contributes to fostering global financial flows consistent with development pathways that reduce greenhouse gas emissions and are resilient to climate change.