Joint MDB Climate Finance Report 2023

This 13th edition of the Joint Report on Multilateral Development Banks’ Climate Finance is an overview of climate finance committed in 2023 by the African Development Bank (AfDB), the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), the Council of Europe Development Bank (CEB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Inter-American Development Bank Group (IDBG), the Islamic Development Bank (IsDB), the New Development Bank (NDB) and the World Bank Group (WBG).

As in previous years, the data and statistics presented in this year’s report result from the application of the harmonised methodologies developed jointly by the multilateral development banks (MDBs) for their annual commitments. In this report, the term “MDB climate finance” refers to the financial resources (from own accounts and MDB-managed external resources) committed by the MDBs to their operations, and components thereof, directed to activities that mitigate climate change and/or support adaptation to climate change. The term “climate co-finance” refers to the volume of financial resources invested by other public and private external parties alongside the MDBs for climate change mitigation and adaptation activities. The MDBs have reported jointly on climate finance since the first edition in 2012, which reported figures for 2011, and have added joint reporting on climate co-finance since the 2015 edition. Starting with the 2019 report, for the purpose of greater transparency and consistency, the multilateral development banks agreed to start reporting on all economies where these banks operate, while maintaining the report focus on low- and middle- income economies.6 This change allowed for a clear breakdown by country income level.