At the IDBG Annual Meeting in 2016, the Board of Governors resolved to endorse the goal of increasing the financing of climate change related projects in LAC to 30% of the IDB’s and IIC’s combined total approvals operations by 2020, subject to demand from borrowing countries and clients and access to external sources of concessional financing.

During 2017, the IDB Group invested approximately US$4.3 billion in climate finance; that is, in development activities carried out by the public and private sectors that reduce greenhouse gas (GHG) emissions and thus mitigate climate change, and/or that reduce vulnerability to climate change and contribute to an adaptation process. This amount represented 28.5% of the IDB Group’s total approvals.