The Asian Development Bank (ADB) will increase its climate-related lending by up to $7.2 billion after the US and Japan agreed to take on the risk for some existing loans. This was reported by the news agency Reuters. Accordingly, the ADB’s new strategy could serve as a template for other development banks. The ADB has set itself a long-term cumulative target of $100 billion for climate financing for the period 2019 to 2030. In 2023, it has lent $9.8 billion.