Development banks report latest support for climate finance

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Water and wastewater systems received almost $1.9 billion in climate finance from the six largest multilateral development banks in 2015, according to their latest annual joint report on climate finance. This was out of a total of more than $25 billion in climate finance delivered during the year.

The ‘2015 Joint Report on Multilateral Development Banks’ Climate Finance’ covers the activity of the Asian Development Bank, the African Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the Inter-American Development Bank Group, and the World Bank Group. The latest edition is the first to also present figures for the co-financing attracted by the MDB support. The total co-financing for 2015 was more than $55 billion, putting the total climate finance at more than $80 billion.

Support for mitigation activities to help cut greenhouse gas emissions was much higher than for adaptation measures, which help recipient countries cope better with the impacts of climate change. Total direct finance from the banks for mitigation was a little over $20 billion, compared to just over $5 billion for adaptation measures.

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