2018 joint report on Multilateral Development Banks’ climate finance
Climate financing by the world’s largest multilateral development banks (MDBs) in developing countries and emerging economies rose to an all-time high of $43.1 billion in 2018, boosting projects that help developing countries cut emissions and address climate risks. This represents an increase of more than 22 percent from the previous year, where climate finance totaled $35.2 billion. This is also a 60 percent increase since the adoption of the Paris agreement in response to the ever more pressing challenge of climate change, which disproportionately affects the poorest and most vulnerable. The latest MDB climate finance figures are detailed in the 2018 Joint Report on Multilateral Development Banks’ Climate Finance, which combines data from 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). These banks account for the vast majority of multilateral development finance globally. The 2018 report also summarizes information on climate finance from the Islamic Development Bank (IsDB), which joined the MDB climate finance tracking groups in October 2017.