Multilateral development banks (MDBs), including the New Development Bank (NDB), increased their climate finance to record levels in 2025, reinforcing their role in supporting climate-resilient and sustainable economies, according to a press release issued on 13 July 2026. Climate finance in low- and middle-income countries jumped 21% from the previous year to an all-time high of $103 billion. MDB climate finance across all countries of operation rose 19% to a record $163 billion. The figures were published in the 2025 Joint Summary Report on Multilateral Development Banks’ Climate Finance. The results confirm that MDBs are on track to meet their 2030 projections announced at COP29 in Baku in 2024.
At COP29 in Baku, MDBs set out their collective ambition to scale up climate finance for low-carbon, resilient development plans. By 2030, they projected to provide $120 billion annually in collective climate finance for low- and middle-income countries, including $42 billion for adaptation. They also aim to mobilize an additional $65 billion a year from the private sector for these economies. For high-income countries, MDBs projected $50 billion a year in climate finance by 2030, including $7 billion for adaptation, alongside a further $65 billion in mobilized private finance. At COP30 in Belém, MDBs reaffirmed their commitment to continue working together as a system.
In low- and middle-income economies, MDB climate finance has doubled over the past five years. Of the $103 billion recorded in 2025, mitigation accounted for the largest share at $68 billion. Adaptation finance continued to grow rapidly, reaching $35 billion, a 31% rise from the previous year. Private-sector mobilization in these countries reached $35 billion. Mitigation finance in low- and middle-income economies rose 16% year-on-year.
In high-income economies, MDB climate finance in 2025 also remained substantial, meeting or exceeding 2030 projections five years in advance. Support went primarily to mitigation efforts with $53 billion, alongside adaptation investments of $7 billion. Private finance mobilization in these countries reached $80 billion. MDBs are advancing their joint digitalization 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 and harmonized methodologies.
The 2025 MDB climate finance reporting was 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), and the Council of Europe Development Bank (CEB). It also includes contributions from the EBRD, the EIB, the Inter-American Development Bank Group (IDBG), and the Islamic Development Bank (IsDB). The New Development Bank (NDB) and the World Bank Group (WBG) complete the group of contributing institutions. Together, these banks confirmed their alignment with the projections set at COP29 and reiterated at COP30.
