World Bank increases climate spending to 45%
December 1, 2023
The World Bank on Friday said it will increase the amount it spends annually on climate-related projects to 45% of its financing over 2024 to 2025, up from 35% now, as part of a policy overhaul to better respond to climate change.
The Washington-based development bank, whose new president Ajay Banga is leading reforms, said it will spend $40 billion, $9 billion more than was previously programmed.
REUTERS