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flag Multilateral banks crucial for climate finance in developing nations face criticism over continued fossil fuel funding.

flag Multilateral banks, funded by taxpayer dollars, are crucial in financing climate projects for developing countries, helping meet a $100 billion annual goal set in 2009. flag However, experts argue the world needs about five times this amount to limit global warming to 1.5 degrees Celsius. flag These banks are essential as developing nations struggle to get low-interest rates, relying heavily on these banks for climate finance. flag Despite efforts to support clean energy, multilateral banks still fund some fossil fuel projects, raising concerns about their alignment with climate goals.

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