MDBs' Climate Finance in Low and Middle-Income Countries Reaches $51 Billion in 2021
Climate finance committed by major multilateral development banks (MDBs) rose by more than 24% last year compared to 2020, according to the 2021 Joint Report on Multilateral Development Banks’ Climate Finance, published today.

The 2021 total financing by MDBs already surpassed the 2025 climate finance goals set at the 2019 United Nations Secretary General’s Climate Action Summit in New York. The goals amount to an expected collective total of $50 billion for low- and middle-income economies, and at least $65 billion of climate finance globally, with a projected doubling of adaptation finance to $18 billion, and private mobilization of $40 billion.