The world is facing an unprecedented confluence of crises—including climate change, inflation, conflict, and food insecurity—with developing countries hardest hit. These challenges have been further compounded by the far-reaching impacts of Russia’s invasion of Ukraine, a growing debt crisis in many countries, the residual effects of the COVID-19 pandemic, and devastating natural disasters. Diminishing growth prospects and tightening fiscal resources are making it harder for countries to respond to these crises and invest in long-term development priorities, including health, education, social protection, and resilience. We anticipate that between now and 2030, developing countries will need an average of $2.4 trillion per year to address the global challenges of climate change, conflict, and pandemics.