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World Bank Secures 100 Billion for Climate Resilience in Poorest Nations

The World Bank has secured $100 billion for its International Development Association (IDA) to aid the world's poorest nations, despite a slight increase in donor pledges to $23.7 billion. This funding aims to enhance climate resilience and address food insecurity and conflict, although experts warn that inflation may diminish its real value. The IDA, which has become vital for climate finance, will channel resources primarily to African nations, with a commitment to allocate 45% of its funding to climate projects by mid-2025.
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18:30 06.12.2024
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