• Scaling Up Climate Action: IDB and IDB Invest aim to deliver $11.3 billion annually in climate finance by 2030.
• Mobilizing Additional Funds: An extra $6.6 billion is expected to be mobilized through private capital.
• Commitment to Adaptation: $25 billion dedicated to climate adaptation from 2024 to 2030, representing 50% of total climate finance.

The Inter-American Development Bank (IDB) and its private sector arm, IDB Invest, are accelerating their climate and environmental sustainability efforts across Latin America and the Caribbean. By 2030, they plan to significantly increase their green and climate financing—IDB aims for 50%, while IDB Invest targets 60%, including mobilized private capital.

By the numbers:

• $11.3 billion in combined annual climate finance by 2030.
• $6.6 billion additional funds mobilized through private capital.
• $7.5 billion dedicated to climate finance in 2023 alone.

“These projections underscore the IDB and IDB Invest’s drive to scale climate action in Latin America and the Caribbean,” said Jordan Schwartz, IDB Executive Vice-President, during COP29. “We’re taking concrete steps to ensure that our resources drive real progress, focusing on the regions that need it most and building resilience where it matters.”

Beyond financing, IDB and IDB Invest are promoting investment, job creation, and resilience through regional programs like Amazonia Forever, One Caribbean, and America en el Centro, which integrate climate policies with biodiversity conservation.

Related Article: IDB, Banco do Brasil, CAIXA and BNDES Announce Development of Amazon Rainforest ETF

Innovative financial tools such as EcoInvest, debt for climate resilience swaps, and IDB CLIMA are being utilized to reduce capital costs and expand access to sustainable finance, supporting communities and fostering inclusive growth.

Multilateral Development Banks Working as a System

Multilateral Development Banks (MDBs) are collaborating to enhance climate action, as outlined in their Viewpoint Note. In 2023, MDBs exceeded their climate finance projections for 2025, providing $125 billion in direct climate finance and mobilizing an additional $100 billion.

On November 12, MDBs announced new 2030 climate finance projections:

• $120 billion annually in direct climate finance.
• $65 billion from private sector mobilization for low- and middle-income countries.

MDBs are also empowering countries to lead their climate agendas through the Joint MDB Long-Term Strategies (LTS) Program and enhanced country platforms that unite MDBs, governments, and the private sector. The adoption of common metrics on climate results ensures transparent tracking of progress and impact.

As climate challenges intensify, IDB, IDB Invest, and MDBs remain committed to driving sustainable change at scale, setting the stage for a resilient, low-carbon future across Latin America and the Caribbean.

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