Development banks' climate funding hits record $163 billion, World Bank pullback looms
Multilateral development banks committed a record $162.5 billion to $163 billion in climate finance for low- and middle-income countries in 2025, a 21% increase from the previous year, according to reports from Reuters and the European Bank for Reconstruction and Development. However, the World Bank has abandoned its target of allocating 45% of its funding to climate finance, raising questions about future momentum. While overall funding hit a new high, the World Bank's policy shift introduces uncertainty about the pace and scale of future climate investments in developing nations.
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