Climate finance by development banks is growing
08/12/2020 Since 6 months

Multilaterals provided $41.5 billion for climate financing in 2019.
The Inter-American Development Bank announced that the multilateral development banks delivered US$41.5 billion in climate financing for low- and middle-income countries during 2019.
The study, for the first time, provides data on MDB climate finance commitments beyond those directed exclusively to developing and emerging economies.
The report combines data from the Asian Development Bank, the African Development Bank, the European Investment and Reconstruction and Development Banks, the Inter-American Development Bank, the World Bank and, for the first time, the Islamic Development Bank, which allocated $466 million to the climate area in 2019.
More than 46 billion dollars (76% of the total amount), was invested in climate change mitigation, with the largest amounts for energy, transport and infrastructure, 3.8 billion dollars, and water and sanitation, 2.9 billion dollars.
In 2019, the MDBs reported another US$102.7 billion in net climate co-financing (public and private sector investments) bringing total climate activity financed in the year to US$164.3 billion.

Sources: IPS  – Dinero

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