BAKU, Azerbaijan, November 11. Multilateral Development Banks (MDBs) have reaffirmed at COP30 their commitment to addressing clients’ priorities by improving livelihoods, creating jobs, and strengthening the resilience of communities and businesses amid intensifying climate shocks and ecosystem degradation, Trend reports via the EBRD.
Acting jointly as a system, the MDBs emphasized the need for resilient and economically sustainable development rooted in trust and long-term stability. Their approach focuses on building strong institutions, reliable infrastructure, employment opportunities, and capacity for climate adaptation tailored to each country’s context.
As part of their collective efforts to better support clients, MDBs are:
Enhancing investment risk profiles and mobilizing more financing through greater private sector participation;
Strengthening measurement frameworks to better capture and track the impact of their investments;
Harmonizing financing processes to simplify access and maximize adaptation and mitigation outcomes;
Advancing the implementation of the Joint MDB Long-Term Strategy Programme to support climate planning and the design of country-led, country-driven platforms.
In 2024, MDBs delivered US$137 billion (€118 billion) in climate finance for adaptation and mitigation efforts, while mobilizing an additional US$134 billion from private capital. Of these amounts, US$85 billion and US$33 billion were directed to low- and middle-income economies, respectively — putting MDBs on track to reach US$120 billion from their own resources and US$65 billion in private capital mobilization by 2030.