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This report by the Climate Policy Initiative (CPI) and E3G analyzes climate finance flows and Paris Agreement alignment between multilateral development banks (MDBs) and national development banks (NDBs) in emerging and developing economies (EMDEs). It identifies limited current cooperation, operational frictions in on-lending, and divergent approaches to climate strategies, providing recommendations to scale collaboration through improved governance, clarified mandates, and shared institutional capacity.

This executive summary from Climate Policy Initiative and E3G examines the cooperation between multilateral development banks (MDBs) and national development banks (NDBs) regarding climate finance in emerging and developing economies. The report identifies limited existing cooperation and a divergence in how these institutions align their operations with the Paris Agreement. It provides recommendations to improve the volume and effectiveness of on-lending through better governance, clarified mandates, and shared institutional capacity.