Climate Finance From Multilateral Banks up to $125 Billion in 2023

Global climate finance from multilateral development banks grew by 25 percent in 2023 to a record $125 billion, according to a report on Friday, with the fastest growth coming in richer countries.

According to the report, climate finance for high-income economies, a World Bank category based on gross national income per capita, rose by 30 percent to $50.3 billion. Climate finance broadly refers to funding for climate change activities and can include grants, loans and proceeds from bonds.