Report: Multilateral Development Banks climate financing reached a record $137 billion in 2024.

On September 12th, according to a latest report jointly released by multilateral development banks, including the Asian Infrastructure Investment Bank, the climate financing of multilateral development banks in 2024 increased by 10% compared to the previous year, reaching a record high of $137 billion, with most of the funds flowing to low- and middle-income economies. The report points out that in 2024, multilateral development banks provided over $85 billion in climate financing for low- and middle-income economies, a 14% increase compared to the previous year. In addition, private capital mobilized by multilateral development banks for climate actions in 2024 reached $134 billion, a 33% increase compared to the previous year.