Next week, I’ll attend the climate summit hosted by the United Nations as part of the 74th session of the General Assembly. A range of environmental challenges—including pollution, the degradation of forests and biodiversity, marine plastics, and extreme weather events—are putting sustainable economic growth and inclusive development at risk. While international discussions have a place in looking for results, one of the great strengths of the World Bank Group is in partnering with countries to find local solutions and deliver good outcomes.
WASHINGTON, January 15, 2019 – The World Bank Group today launched its Action Plan on Climate Change Adaptation and Resilience. Under the plan, the World Bank Group will ramp up direct adaptation climate finance to reach $50 billion over FY21–25. This financing level—an average of $10 billion a year—is more than double what was achieved during FY15-18. The World Bank Group will also pilot new approaches to increasing private finance for adaptation and resilience.