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Multilateral banks are key to financing the fight against global warming. Here is how they work

  • International mega banks funded by taxpayers are the fastest-growing source of climate finance for the developing world.
  • In 2022, the world met a $100 billion annual financing goal for developing nations set in 2009 to address climate change.
  • Developing countries rely more on multilateral banks for climate financing compared to industrialized countries, as they lack resources and access to credit.
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