Major multilateral development banks, including the African Development Bank, World Bank, and the Asian Development Bank, are under increasing pressure to stop funding fossil fuel projects to combat climate change.

In a letter to the institutions ahead of the conclusion of climate talks in Madrid, Spain, this week, global environmental lobby groups including Big Shift Global, African Coalition for Sustainable Energy and Access, Pan African Climate Justice Alliance and 350.org said the multilateral development banks (MDBs) have an urgent responsibility and opportunity to align their lending with the Paris Agreement.

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