Public focus has mostly been on climate finance delivered through the UNFCCC and multilateral institutions such as the World Bank, but this report illuminates that the bilateral institutions – specifically, the French (AFD) and German (KFW) Development Banks and the Japan International Cooperation Agency (JICA) – are collectively playing a major role in global flows of finance to developing countries. The report presents both the scale of total flows as well as the regional and sectoral distribution of these flows.

The working paper is of  high relevance to negotiators in the context of climate change finance under the UNFCCC and to countries seeking financing for their low-carbon growth and adaptation strategies. It also informs the debate of “new and additional” and the future role of bilateral financing institutions under UNFCCC article 11.5.

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