ADB to allocate half of its lending to climate finance by 2030

The Asian Development Bank has set a target to allocate half of its annual lending to climate finance by 2030, increasing from the current 35%. The goal is a $100 billion contribution between 2019 and 2030. Additionally, the bank aims to boost private sector capital mobilization and address major development challenges in Asia.

Sep 7, 2024 - 11:00

ADB to allocate half of its lending to climate finance by 2030

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The Asian Development Bank has set a target to allocate half of its annual lending to climate finance by 2030, increasing from the current 35%. The goal is a $100 billion contribution between 2019 and 2030. Additionally, the bank aims to boost private sector capital mobilization and address major development challenges in Asia.