Multilateral development banks raise climate finance to $163bn

RIYADH: Multilateral development banks, including the Islamic Development Bank, reached record levels of climate finance in 2025, reinforcing their role in supporting sustainable and climate-resilient economies. The findings, published in the “2025 Joint Summary on Climate Finance” by the MDBs, confirm that these banks are on track to achieve the 2030 targets set at the UN Climate Change Conference, or COP29, in Baku in 2024, the Saudi Press Agency reported.

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