Multilateral development banks (MDBs) raised a record $163 billion in climate finance during 2025 to support low- and middle-income countries, a new report has revealed. According to the Joint Summary Report on Multilateral Development Banks’ Climate Finance, climate finance by MDBs in low- and middle-income countries rose by more than a fifth (21%) compared to the previous year, to an all-time high of $103 billion, while climate finance across all countries rose by 19%. [...]