As we approach the high-level week of the United Nations General Assembly and the UN climate change conference COP29, the global climate agenda is being defined by intense discussions around climate finance. But largely missing from this debate is the question of who has access to this funding.
The need to channel climate finance into the hands of those most affected by climate change is well recognized. The issue is at the heart of the loss and damage talks and was central to UN Secretary-General António Guterres’s speech on World Environment Day, where he underscored how it’s “a disgrace that the most vulnerable are…struggling desperately to deal with a climate crisis they did nothing to create,” and argued that “the global financial system must be part of the climate solution.” It has also been key to COP negotiations ever since the Warsaw International Mechanism on Loss and Damage was established in 2013.
Continue readingThe 2020s were supposed to be the decade in which significant progress would be made 
toward achieving the Sustainable Development Goals (SDGs). Instead, the 2020s have delivered the weakest half-decade of global growth of the past 30 years. Weak investment growth is a major reason for this disappointing outcome.
Concessional finance—that is, grants and low-interest loans—is more important than ever for 
the world’s poorest countries. Yet today’s aid architecture is highly complex, fragmented, and offers limited concessionality. In this context, it’s important to find ways to leverage the available resources for the biggest, most effective impact.
As Prepared for Delivery
Thank you for the kind introduction.
For me, this moment marks the culmination of a journey that began over a year ago—when I first started at the World Bank and promised to visit every region where we operate.
WASHINGTON, September 19, 2024 — The World Bank Group delivered a record $42.6 billion in climate finance in fiscal year 2024—which covers July 1, 2023 to June 30, 2024—supporting efforts to end poverty on a livable planet, investing in cleaner energy, more resilient communities, and stronger economies. This is a 10% increase in climate finance compared to the previous year.
SUVA, September 10, 2024 –Leaders from across Pacific Island countries have called for a robust 21st replenishment of the World Bank’s International Development Association (IDA21), echoing the call from African Heads of State who agreed in April on a bold transformation agenda with IDA as a cornerstone. Hosted by the Pacific Islands Forum Secretariat, leaders and representatives from 11 countries met with World Bank Group President Ajay Banga last week and reaffirmed IDA’s critical role in supporting Pacific islands as they work to boost development and climate resilience.
Biodiversity conservation is vital for sustainable development, poverty alleviation, 
and a livable planet. It sustains ecosystems that support human livelihoods, particularly in developing nations, by providing essential resources like food, clean water, and climate stability. Healthy ecosystems are crucial for agriculture, fishing, and forestry, which reduce poverty and foster sustainable economic growth. Additionally, biodiversity fuels industries such as ecotourism and pharmaceuticals, generating jobs and income. Maintaining biodiversity strengthens ecosystem resilience, stabilizes climate, and mitigates climate change impacts, making it key to environmental health and global sustainability.
WASHINGTON, Sept. 4, 2024 – A staggering 400 million students globally experienced school closures from extreme weather since 2022, according to a new World Bank report released today. The report examines the detrimental impacts of climate change on education in low- and middle-income countries and offers solutions to harness education to spur climate action. It also estimates that a one-time investment of $18.51 per child can mitigate the impact from climate shocks.
Netherlands for the World Bank 
You must be logged in to post a comment.