The group of development banks includes the World Bank, the Asian Infrastructure Investment Bank, the European Bank for Reconstruction and Development and the Inter-American Development Bank.
The increase would focus on low and middle-income economies, and on climate adaptation. It would include $40 billion mobilised from private sector investors. The joint adaptation finance is expected to double to $18 billion annually by 2025, compared to current levels.
Multilateral development banks have been leading climate action for more than a decade to meet the objectives of the Paris Agreement, which aims to limit the increase in global temperatures to well below 2°C.
https://www.neweurope.eu/article/eib-commits-to-raise-annual-climate-investment/