MDBs Pledge Stronger Support for Resilient, Green Growth at COP30 in Belém

“Multilateral Development Banks are powerful vehicles for advancing global priorities,” said Ambroise Fayolle, Vice-President of the European Investment Bank (EIB).

At the UN Climate Change Conference (COP30) in Belém, Brazil, the world’s leading Multilateral Development Banks (MDBs) reaffirmed their shared commitment to supporting their client countries in building resilient, inclusive, and sustainable economies in the face of escalating climate shocks, ecosystem degradation, and social vulnerability.

Representing institutions such as the World Bank, European Investment Bank (EIB), Asian Development Bank (ADB), African Development Bank (AfDB), Inter-American Development Bank (IDB), and others, the MDBs released a joint statement emphasizing that their coordinated efforts are rooted in trust, stability, and long-term partnership.

“Multilateral Development Banks are powerful vehicles for advancing global priorities,” said Ambroise Fayolle, Vice-President of the European Investment Bank (EIB). “Through our joint statement, MDBs reaffirm their commitment to helping clients accelerate the green transition by supporting decarbonisation, adaptation, and nature-positive investments.”

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A System-Wide Push for Climate-Resilient Development

The MDBs underlined that effective climate action requires resilient, economically sound development models — those that empower countries to grow sustainably while protecting their populations from increasingly severe weather events.

Their strategy focuses on five key pillars:

1. Stable institutions that can manage long-term risk and governance.

2. Reliable infrastructure to withstand climate extremes and support green growth.

3. Employment and skills that promote inclusion and local economic opportunity.

4. Adaptation and resilience to mitigate the effects of floods, droughts, and heatwaves.

5. Country-driven capacity for climate planning and sustainable investment.

Working together as a unified system, the MDBs committed to making development “built to last”, with a renewed emphasis on the needs of low- and middle-income countries (LMICs) that are most vulnerable to the impacts of climate change.

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Improving Impact and Mobilizing Private Capital

The MDBs also announced new initiatives to strengthen financing systems and unlock private investment at scale. These include:

• Improving the risk profile of climate investments to attract more private capital and create bankable green projects.

• Harmonizing financial processes among MDBs to simplify access to funds for developing nations.

• Strengthening results measurement, enabling institutions to track the real-world impacts of their adaptation and mitigation investments.

• Advancing the Joint MDB Long-Term Strategy Program, which supports country-led platforms for climate action, aligning financial flows with national priorities.

By streamlining operations and leveraging their collective expertise, MDBs aim to de-risk private investments in renewable energy, infrastructure, agriculture, and nature-based solutions — sectors crucial for a just and resilient transition.

“Through the EIB’s 2026–2030 Climate Bank Roadmap, we are deepening collaboration with fellow MDBs to deliver resilient, inclusive, and sustainable development for all,” Fayolle added.

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Delivering Climate Finance at Scale

In 2024, MDBs collectively provided $137 billion in climate finance for adaptation and mitigation efforts, while mobilizing an additional $134 billion from private investors. Of this total, $85 billion went to low-income countries and $33 billion to middle-income economies, underscoring their role as critical enablers of climate finance for the developing world.

The MDBs remain on track to meet their 2030 targets of $120 billion annually from their own accounts and $65 billion mobilized from private sources, a significant contribution to the global $100 billion-per-year climate finance goal established under the Paris Agreement.

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Scaling Up Adaptation and Resilience

MDBs have doubled their adaptation and resilience funding since 2019, delivering over $26 billion in 2024 to help vulnerable economies withstand climate shocks.

At COP30, they launched a new technical report, From Innovation to Impact: Building Resilience for People and Planet, which highlights more than 100 best practices for scaling up resilience. These examples include innovative financial instruments, insurance mechanisms, and early warning systems that strengthen communities and attract new investment.

The report emphasizes linking finance with policy dialogue, strategic planning, and institutional capacity-building — ensuring that climate adaptation becomes an integral part of development planning.

“Resilience cannot be delivered through funding alone,” the report notes. “It requires coordinated action, partnerships, and policies that align climate investments with social and economic goals.”

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Nature at the Core of Development Finance

Recognizing that climate resilience is inseparable from nature conservation, MDBs also announced a major expansion of nature-positive finance. They are supporting clients to scale up investments that protect, restore, and enhance natural ecosystems while delivering economic returns and biodiversity benefits.

At COP30, MDBs unveiled a new Framework for Nature Financing, which includes:

• The Common Principles for Tracking Nature Finance, a shared methodology for identifying and classifying nature-related investments.

• A Practitioner’s Guide to Results Metrics Selection, designed to help financial institutions and governments measure ecological outcomes and attract private investors.

These tools aim to establish a global standard for high-quality nature finance, ensuring that investments in forests, mangroves, wetlands, and biodiversity conservation contribute directly to climate adaptation and community resilience.

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Building Trust Through Partnership and Transparency

A recurring theme in the MDB statement was the need for trust, inclusivity, and accountability. MDBs stressed that financing must not only deliver economic growth but also strengthen social equity and governance, ensuring that communities — especially those most affected by climate change — are part of the solution.

The Joint MDB Long-Term Strategy Program, launched in 2023, has already supported over 40 countries in preparing national climate strategies and investment frameworks. By combining financial resources with technical assistance and policy alignment, the program helps governments turn climate ambition into action.

“Our collective challenge is not only to finance climate action but to make sure it transforms lives and builds lasting resilience,” Fayolle said.

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The Road Ahead: From Pledges to Implementation

As COP30 progresses, MDBs are positioning themselves as engines of implementation — bridging the gap between climate commitments and on-the-ground impact. Their unified efforts represent one of the most significant coordinated responses to the global adaptation financing gap, which the UN estimates to be five to ten times larger than current flows.

In the coming years, MDBs plan to:

• Expand blended finance solutions to crowd in private capital.

• Integrate gender and inclusion goals into climate financing frameworks.

• Enhance data transparency to improve monitoring of results.

• Support just transition frameworks ensuring that climate investments create decent jobs and economic opportunities.

By combining financial innovation with long-term partnerships, MDBs aim to deliver sustainable, resilient growth that supports both people and the planet.

“In a world facing mounting climate and ecological pressures, MDBs remain united in purpose,” said Fayolle. “Together, we are delivering solutions that protect communities, drive green growth, and ensure that development today does not come at the cost of tomorrow.”