Climate finance by Multilateral Development Banks (MDBs) for low-income and middle-income economies reached a new record of $60.7 billion in 2022, up 46 percent compared to 2019 volumes, a new joint report by the MDBs has found. Of the amount, $38.0 billion, or 63%, went into climate change mitigation finance, and $22.7 billion or 37%, supported climate change adaptation. Mobilised private finance stood at $16.9 billion, the report said.Read More
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