Multilateral development banks (MDBs) have increased climate finance in low-and middle-income by 21 per cent to $103bn last year, according to their new annual report while MDB climate finance across all countries of operation rose 19 per cent to a record $163bn.

Multilateral development banks (MDBs) including the European Investment Bank (EIB) increased climate finance to record levels in 2025, reinforcing their role in supporting climate-resilient and sustainable economies.

The results confirm that MDBs are on track to meet their 2030 projections announced at COP29 in Baku in 2024 when 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 $120bn annually in collective climate finance for low- and middle-income countries, including $42bn for adaptation, while mobilising an additional $65bn a year from the private sector.

“These results show that multilateral development banks are delivering at scale and accelerating support where it is most needed,” said EIB VP Ambroise Fayolle. “By mobilising public and private investment, we are helping clients worldwide invest in resilience, energy independence and sustainable growth.”

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.

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