October 19

Report: Multilateral Development Banks Deliver Record Climate Finance of Close to $61 Billion for Low and Middle-Income Economies in 2022

Climate finance by Multilateral Development Banks (MDBs) for low-income and middle-income economies reached a new record of $60.7 billion in 2022, up 46 percent compared to 2019 volumes, a new joint report by the MDBs has found.

Of the amount, $38.0 billion, or 63%, went into climate change mitigation finance, and $22.7 billion or 37%, supported climate change adaptation. Mobilised private finance stood at $16.9 billion, the report said.

Source: African Development Bank Group (link opens in a new window)

climate change, climate finance