KAMPALA, July 14, 2026 — Multilateral development banks [MDBs], including the European Bank for Reconstruction and Development [EBRD], increased climate finance to record levels in 2025, reinforcing their role in supporting climate-resilient and sustainable economies.
Climate finance provided by MDBs to low- and middle-income countries rose by 21 percent from the previous year to an all-time high of US$103 billion, while total MDB climate finance across all countries of operation increased by 19 per cent to a record US$ 163bln.
The figures, published on Monday in the 2025 Joint Summary Report on Multilateral Development Banks’ Climate Finance, confirm that MDBs remain on track to meet their 2030 climate finance projections announced at the COP29 United Nations Climate Change Conference held in Baku in 2024.
Gianpiero Nacci, Managing Director for Climate Strategy and Delivery at the EBRD, said: “At a time of heightened geopolitical uncertainty, MDB collaboration is vital to helping countries build more resilient, energy-secure and competitive economies. This year’s record figures show what we can deliver together. Our EBRD Green Economy Transition Strategy underpins our climate action and, across our regions, we are supporting mitigation and adaptation projects, as well as nature-based solutions. We are also leading efforts to mobilise private capital across our countries of operation to maximise our impact. We are proud to be part of a collective effort delivering lasting economic value, here and now.”
In low- and middle-income economies, MDB climate finance has doubled over the past five years. Of the US$103bln committed in 2025, mitigation accounted for the largest share at US$68bln, while adaptation finance continued to grow rapidly to US$35bln. Private-sector mobilisation in these countries reached US$ 35bln.
In high-income economies, MDB climate finance also remained strong in 2025, meeting or exceeding 2030 projections five years ahead of schedule. Mitigation finance totalled US$ 53bln, while adaptation investments reached US$ 7bln. Private finance mobilisation in these countries amounted to US$ 80bln.
MDB climate finance targets
At COP29 in Baku, MDBs outlined their collective ambition to scale up climate finance to support countries and other clients in pursuing low-carbon and climate-resilient development.
By 2030, the banks project providing US$120bln annually in climate finance to low- and middle-income countries, including US$42bln for adaptation, while mobilising an additional US$65bln a year from the private sector.
For high-income countries, MDBs project annual climate finance of US$50bln by 2030, including US$ 7 billion for adaptation, alongside a further US$ 65bln in mobilised private finance.
At COP30 in Belém, the MDBs reaffirmed their commitment to working together to support clients and help them seize the opportunities presented by climate-smart development.
Advancing transparency
MDBs are continuing their joint digitalisation efforts to improve the transparency, accessibility and usability of climate finance data.
Launched in April 2026, the pilot version of the MDB Climate Finance Dashboard complements the joint summary report by providing more detailed data, comprehensive breakdowns and the full set of harmonised methodologies used by the MDBs.
Through interactive tables and visualisations, stakeholders can explore climate finance data more flexibly and intuitively, enhancing both understanding and usability.
Joint reporting on climate finance
The 2025 MDB climate finance report was coordinated and prepared for publication by the European Investment Bank [EIB], with support from the EBRD.
The report combines data from the African Development Bank [AfDB], the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank [AIIB], the Council of Europe Development Bank [CEB], the EBRD, the EIB, the Inter-American Development Bank Group [IDBG], the Islamic Development Bank [IsDB], the New Development Bank [NDB] and the World Bank Group [WBG].
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