By 2030, the IDB and IDB Invest together expect to provide US$11.3 billion in annual climate financing and mobilize another US$6.6 billion.
The Inter-American Development Bank (IDB) and its private sector arm, IDB Invest, are expanding climate and environmental sustainability throughout Latin America and the Caribbean.
By 2030, the IDB aims to reach 50% in green and climate financing, while IDB Invest projects 60%, including mobilized private capital, to amplify climate action in the region.
By 2030, the IDB and IDB Invest together expect to provide US$11.3 billion in annual climate financing and mobilize another US$6.6 billion.
These projections are in line with the commitments of the two institutions, as outlined in the new Impact Framework, which includes the delivery of US$25 billion in adaptation and dual-purpose finance from 2024 to 2030.
In 2023 alone, the IDB and IDB Invest dedicated US$7.5 billion to climate finance, laying the foundation for long-term climate resilience.
"These projections demonstrate the drive of the IDB and IDB Invest to expand climate action in Latin America and the Caribbean," said Jordan Schwartz, Executive Vice President of the IDB, at COP29.
"We are taking concrete steps to ensure our resources drive real progress, focusing on the regions that need it most and building resilience where it matters," he added.
Beyond financing, the IDB and IDB Invest are working to boost investment, job creation, and resilience throughout Latin America and the Caribbean through regional programs such as Amazonía Siempre, One Caribbean, and América en el Centro, which integrate climate policies with biodiversity conservation.
Innovative tools such as EcoInvest, debt-for-climate-resilience swaps and BID CLIMA reduce capital costs and expand access to sustainable financing, supporting communities and driving inclusive growth.
MULTILATERAL DEVELOPMENT BANKS OPERATE AS A SYSTEM
It is worth noting that the MDBs have committed to working as a system on climate action, promoting sustainable growth, employment and resilience.
The recent Joint Report of the MDBs on Climate Finance highlights that in 2023 the MDBs have already exceeded their climate finance forecasts for 2025, with US$125 billion in direct climate finance and another US$100 billion mobilized.
On November 12, the MDBs announced new climate finance projections for 2030, which they estimate at US$120 billion annually, plus an additional US$65 billion from private sector mobilization for low- and middle-income countries.
In addition to financing, the MDBs are also empowering countries to lead their climate agendas through the Joint MDB Long-Term Strategy Programme and enhanced national platforms bringing together MDBs, governments and the private sector.
Adopting common indicators on climate outcomes ensures clear monitoring of MDB progress and impact.
As climate challenges intensify, the IDB, IDB Invest and the MDBs remain committed to transparent and sustainable change at scale, laying the foundation for a resilient, low-carbon future throughout Latin America and the Caribbean.
