In recent years，Multilateral Development Banks （MDBs） have increased their climate finance commitments and started to play a more significant role in global green finance development. In 2020，the total amount of climate finance committed by the eight major MBDs reached $66.045 billion. Even though the current gap in global climate finance is still significant，MDBs are striving toward higher climate finance targets. Due to the specific characteristics，such as long-term and stable investment，counter-cyclical investment，preferential financing，as well as technical assistance responsibility，MDBs have many advantages in fostering green finance development compared with commercial financial institutions. Thanks to these features，MDBs could effectively leverage private investments for green projects. Their work could be further improved by enhancing green finance strategies and close cooperation with commercial financial institutions，and other organizations. Multilateral development finance is expected to further promote the unification of green financial standards，strengthen efforts in leveraging private capital，improve environmental and social risk management systems，and actively facilitate global economic recovery.