Multilateral development banks: $137 Bn invested to combat climate change in 2024

€137bn (€116.89bn) : that was the amount of global financing dedicated to combating climate change by the multilateral development banks (MDBs) in 2024, up 10% on 2023, according to the MDBs' annual report on climate financing, published by the EIB on 09/09/2025.

Private financing mobilised by the MDBs for climate action reached $134bn in 2024 (€114.33bn), or +33% compared with 2023.

In total, $41bn (€34.97bn) was devoted by the MDBs to the 'energy' component of climate change mitigation, and $9.7bn (€8.27bn) to the 'energy, transport and other environmental and built infrastructure' component of adaptation.

For their part, the MDBs have pledged to provide $120bn/year (€102.38bn/year) in collective climate finance to low- and middle-income countries by 2030, including $42bn (€35.83bn) for adaptation, while mobilising an additional €65bn/year from the private sector.

For high-income countries, the MDBs are forecasting $50bn/year in climate finance by 2030, including €7bn for adaptation, as well as an additional $65bn (€55.46bn) from private finance.

Increasing climate financing will…