The countries receiving the largest volumes of support for private sector engagement for climate change in 2013 (in absolute terms) were Turkey, India, South Africa, Chile and China. The large share of finance going towards private sector engagement in middle income countries, particularly UMICs, is driven by finance provided by bilateral DFIs and private sector operations of bilateral and multilateral development banks, directly to private sector actors. Such financing usually targets countries where there is a relatively strong private sector, with functioning capital markets in place that can absorb financing at non-concessional terms, and where there is strong policy direction to address climate change.