Climate change financing by multilateral banks hits $24B

Six leading multilateral development banks (MDBs) provided almost $24 billion worldwide in financing in 2013 for projects in developing and emerging economies that address the challenges of climate change, according to the third annual joint MDB report on climate finance.

The Asian Development Bank (ADB) said the report, released Friday, “demonstrates the shared engagement expressed by the six MDBs last week to reinforce transparency of their financing in climate change mitigation and adaptation.”