Risk to Reward 2025

Private climate finance to EMDEs in 2023 was distributed unevenly across regions, as summarized below and in Figure 6: –Latin America & Caribbean attracting the highest volume at $60 billion (32%) –Central Asia & Eastern Europe followed with $40 billion (21%) –South Asia with $35 billion (19%) –Middle East & North Africa with $26 billion (14%) –East Asia & Pacific with $13 billion (7%) –Sub-Saharan Africa with $12 billion (6%) Private climate finance to EMDE regions, domestic and international (2023) FIGURE 6 $40 bn $26 bn $12 bn $60 bn$13 bn $35 bnRegions Latin America & Caribbean Central Asia & Eastern Europe South AsiaValue Percentage $60 bn 32% $40 bn 21% $35 bn 19%Regions Middle East & North Africa East Asia & Pacific Sub-Saharan AfricaValue Percentage $26 bn 14% $13 bn 7% $12 bn 6% Note: For the purposes of this report, East Asia includes Mongolia, Democratic People’s Republic of Korea and South East Asian EMDEs, but excludes China. Source: Climate Policy Initiative (CPI), 2025.25 12 From Risk to Reward: Unlocking Private Capital for Climate and Growth