World Bank Group Announces $200 billion over Five Years for Climate Action

Funding for 2021-2025 includes a significant boost for adaptation and resilience World Bank building

Washington DC – 3 December, 2018 —The World Bank Group today announced a major new set of climate targets for 2021-2025, doubling its current 5-year investments to around $200 billion in support for countries to take ambitious climate action. The new plan significantly boosts support for adaptation and resilience, recognizing mounting climate change impacts on lives and livelihoods, especially in the world’s poorest countries. The plan also represents significantly ramped up ambition from the World Bank Group, sending an important signal to the wider global community to do the same.

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A Strong Foundation for Greater Impact

devcomm_leaderDespite expectations that growth will be robust in the near term, developing countries face challenges to keep up the pace of progress and ensure inclusive, sustainable growth amid structural changes to the global economy. The World Bank Group is uniquely placed to address global challenges and help countries achieve their goals in today’s increasingly complex development landscape.

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Press Releases: World Bank Bond Highlights Investor Focus on Sustainable Development Goals.

pexels-photo-261949.jpegSwedish Insurance Group Folksam invests in World Bank bonds to raise awareness for health, gender, responsible consumption and production, and climate.

WASHINGTON, February 12, 2018 – The World Bank (IBRD) has issued a US$350 million bond that raises funds for its development activities around the world, while highlighting four of the 17 Sustainable Development Goals (SDGs). The sole investor in the bond is the Folksam Group, one of Sweden’s leading insurance and investment management companies.

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Jobs at the Core of Development: Transforming Economies and Societies through Sustainable Employment

Economic growth has the power to transform societies, boost incomes, and enable images citizens to thrive, but growth alone is not enough. To reduce poverty and ensure shared prosperity, growth that creates more, better, and inclusive jobs is needed. Good, inclusive jobs are the surest pathway out of poverty. In recent years, the World Bank has supported countries’ jobs agenda by helping to provide skills training to job seekers; to finance loans for micro and small enterprises; and to leverage financing in support of private-sector employment growth; among other interventions.

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