Climate finance committed by major multilateral development banks rose to a total of $66 billion last year from $61.6 billion in 2019, with $38 billion committed to low-income and middle-income economies, according to the 2020 Joint Report on Multilateral Development Banks’ Climate Finance. The joint report is an annual collaborative effort to make public climate finance figures of multilateral development banks, together with a clear explanation of the methodologies for tracking this finance.
The report was written by a group of multilateral development banks composed of the African Development Bank (AfDB), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank Group (IDBG), Islamic Development Bank (IsDB), New Development Bank (NDB) and World Bank Group (WBG).
The data and statistics presented in this year’s report result from the uniform application of the methodologies developed jointly by the multilateral development banks for their annual commitments.