Multilateral development banks (MDBs) play an important role in financing developing countries’ efforts to reduce emissions and protect against the effects of climate change, and 2020 was a critical waypoint for MDB climate finance. For one, it marked the due date for the climate finance targets many MDBs set in 2015. 2020 was also the year by which developed countries committed to mobilize $100 billion per year in climate finance for developing countries, with many developed countries channeling a significant share through MDBs.

Find out more about MDBs' progress during 2020.