Multilateral Development Banks have reaffirmed their commitment at COP30 to respond to clients’ priorities to improve livelihoods and create jobs for the resilience of communities and businesses facing intensified climate shocks and ecosystem degradation, the New Development Bank (NDB) announced.
Working together as a system, they’re calling for resilient, economically sound development rooted in trust and built to last, focusing on stable institutions, reliable infrastructure, employment opportunities, adaptation to climate shocks, and the capacity to grow within each country’s context. In 2024, MDBs provided $137 billion in climate finance for adaptation and mitigation and mobilized an additional $134 billion from private capital.
The banks’ efforts to better support clients include improving the risk profile of investments and attracting more money by finding new ways to involve the private sector, strengthening how results are measured to better capture and track the impact of their investments, and harmonizing their work to simplify financing processes and deliver greater adaptation and mitigation impact. Of the total climate finance, $85 billion and $33 billion were directed to low- and middle-income economies respectively, putting MDBs on track to reach $120 billion from their own accounts and $65 billion in private capital mobilization by 2030.
Since 2019, MDBs have doubled their support for adaptation and resilience, delivering over $26 billion to low- and middle-income economies in 2024. They launched at COP30 the technical paper “From Innovation to Impact: Building Resilience for People and Planet,” a new report that shows more than 100 best practices for delivering resilience, including several pioneering instruments that are expanding resources, mobilizing private capital, and strengthening systemic resilience. The approach links finance with policy dialogue, strategic planning, and institutional capacity-building.
The MDBs are supporting clients to scale up investments that actively protect, restore, or improve nature while generating an economic return by improving metrics, methodologies, and the design of financial products. In Belém, they will launch a new framework for nature financing that includes the Common Principles for Tracking Nature Finance and A Practitioner’s Guide to Results Metrics Selection, both designed to support the development of high-quality financial products and attract greater private capital for nature.
The banks are also advancing the implementation of the Joint MDB Long-Term Strategy Program to support clients with climate planning and the design and implementation of country-led, country-driven platforms. The unified approach aims to simplify access to climate finance while ensuring that investments deliver measurable results for communities on the ground and align with national development priorities.
