ADB commits record climate finance of almost US$10 billion in 2023; Laos to receive assistance in achieving its carbon neutrality aims

VIENTIANE (Vientiane Times/ANN): The Asian Development Bank (ADB) committed a record amount of climate finance in 2023 to help its developing member countries in Asia and the Pacific cut greenhouse gas emissions and adapt to the impacts of a warming planet.

According to the ADB, the bank committed US$9.8 billion in climate finance from its own resources last year - US$5.5 billion for mitigation and US$4.3 billion for adaptation - a more than 46 percent increase on its 2022 climate financing commitments.