- Multilateral development banks’ climate finance in low-and middle-income countries jumps 21% to USD103 billion last year, according to their new annual report.
- MDB adaptation finance in low- and middle-income economies rose 31% to USD35 billion, and mitigation finance rose 16% to USD68 billion.
- MDBs on track to meet their 2030 climate-finance projections across all their countries of operation.
Multilateral development banks (MDBs) including the Asian Infrastructure Investment Bank (AIIB) increased climate finance to record levels in 2025, reinforcing their role in supporting climate-resilient and sustainable economies. Climate finance by MDBs in low- and middle-income countries jumped 21% from the previous year to an all-time high of USD103 billion while MDB climate finance across all countries of operation rose 19% to a record USD163 billion.
The results, published today in the 2025 Joint Summary Report on Multilateral Development Banks’ Climate Finance, confirm that MDBs are on track to meet their 2030 projections announced at the United Nations climate conference COP29 in Baku in 2024.
In low- and middle-income economies, MDB climate finance has doubled over the past five years. Of the USD103 billion amount in 2025, mitigation accounted for the largest share at USD68 billion while adaptation finance continued to grow rapidly to USD35 billion. Private-sector mobilisation in these countries reached USD35 billion.
In high-income economies, MDB climate finance in 2025 also remained substantial, meeting or exceeding 2030 projections five years in advance and supporting primarily mitigation efforts with USD53 billion, alongside adaptation investments of USD7 billion. Private finance mobilisation in these countries reached USD80 billion.
For the joint summary report with the overview of 2025 figures click here.
MDB climate finance
At COP29 in Baku, MDBs set out their collective ambition to scale up climate finance to support countries and other clients with their low-carbon, resilient development plans. By 2030, they projected to provide USD120 billion annually in collective climate finance for low- and middle-income countries, including USD42 billion for adaptation, while mobilising an additional USD65 billion a year from the private sector. For high-income countries, MDBs projected USD50 billion a year in climate finance by 2030, including USD7 billion for adaptation, alongside a further USD65 billion in mobilised private finance.
At COP30 in Belém, MDBs reaffirmed their commitment to continue to work together as a system to assist clients, helping them benefit from the opportunities of climate smart development.
Advancing transparency
MDBs are advancing 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 granular data, detailed breakdowns and the full set of harmonised methodologies used by MDBs. Through interactive tables and visualisations, stakeholders can explore climate finance data in a more flexible and intuitive way, enhancing both understanding and usability.
MDB joint reporting on climate finance
The 2025 MDB climate finance reporting is coordinated and prepared for publication by the EIB, with assistance from the European Bank for Reconstruction and Development (EBRD). The reporting 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).
About AIIB
The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing “Infrastructure for Tomorrow,” with sustainability at its core. AIIB began operations in 2016, now has 111 approved members worldwide, is capitalized at USD100 billion, and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.
