12 Sep MDBs increase 2016 financing to tackle climate challenge

“EBRD on track to meet Paris accord commitments.

The world’s six largest multilateral development banks (MDBs) continued to make a strong contribution to the global climate challenge in 2016, increasing their climate financing in developing countries and emerging economies last year to US$ 27.4 billion from US$ 25 billion in 2015.

Of the 2016 total, US$ 21.2 billion or 77 per cent was dedicated to climate mitigation finance, with the remaining 23 per cent devoted to climate adaptation.

Combined with additional co-financing from other investors, the total amount of finance mobilised for climate action reached US$ 65.3 billion last year.”