Published:  12:18 AM, 12 September 2017

MDBs increase climate financing to $27.4b in 2016


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 $27.4 billion from $25 billion in 2015.

Of the total, $21.2 billion or 77 percent was dedicated to climate mitigation finance, with the remaining 23 percent devoted to climate adaptation, said a media release yesterday.

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

The MDBs have reported jointly on climate finance since 2011. Collectively, the banks have committed over $158 billion in climate finance during the past 6 years.

-BSS


Leave Your Comments



Latest News


More From Business

Go to Home Page »

Site Index The Asian Age