WB promises $200 b in 2021-25 climate cashsitename%%

WB promises $200 b in 2021-25 climate cashsitename%%

Both the moves represented a significantly ramped up ambition to combat climate change, while also inspiring the wider global community for doing the same.

The World Bank Group has doubled its current five-year investment to around $200 billion (£157bn) to support countries taking action to fight climate change.

Kristalina Georgieva, the World Bank CEO, was reported stating that of the Dollars 200 billion investment, some funding will go towards providing high-quality weather forecasts, sustainable water management, smart agriculture and responsive social safety nets as a way of its financial aid for the affected countries.

- Adaptation and climate-resilient operations - where the banks will work to ensure their operations are more climate-resilient and to also strengthen their clients' and their communities' ability to adapt to the impacts of climate change.

(IFC) and the Multilateral Investment Guarantee Agency and private capital mobilized by the World Bank Group.

World Bank had committed $20.5 billion to climate action in the 2018 fiscal year, running from July 2017 to June this year, compared with an annual average of $13.5 billion for the 2014-2018 period.

The bank spent almost US$21 billion from 2014 to this year on adaptation, which accounted for just over 40 percent of the climate benefits generated by its funding overall.

More news: AirPods may support wireless charging in 2019. But where's AirPower?
More news: Russian Federation launches Soyuz, the first manned mission, to International Space Station
More news: Azhar Ali shines in last Test against New Zealand

A key priority is boosting support for climate adaptation, recognizing that millions of people across the world are already facing the severe consequences of more extreme weather events. The World Bank funding for the first time puts those efforts on equal footing with carbon emission reductions. "Our job is to go out and proactively find those opportunities, use our de-risking tools, and crowd in private sector investment". The Bank made a statement on December 3 during the opening of the 24th United Nations conference on climate in Katowice.

The investments will support the generation, integration, and infrastructure for 36 GW of renewable energy and will back 1.5 million GWh equivalent of energy savings through efficiency improvement.

"People are losing their lives and livelihoods because of the disastrous effects of climate change".

The World Bank will also help countries integrate several climate considerations such as policy planning, investment design, implementation and evaluation.

In Food and Land-Use: Increase integrated landscape management in up to 50 countries, covering up to120 million hectares of forests.

Some of the money will be used to help 100 cities on resilient urban planning and transit-oriented development that can reduce vehicle use.

Related Articles

  • Service dog accompanies late president Bush on final farewell

    Service dog accompanies late president Bush on final farewell

    John Miller, president and CEO of America's VetDogs, thanked Bush for his work and vision for helping Americans with disabilities. In Texas, students, staff and visitors have been flocking to Bush's presidential library on the campus of Texas A&M University.
    RBI maintains status quo, keeps repo rate unchanged at 6.5%

    RBI maintains status quo, keeps repo rate unchanged at 6.5%

    Some experts say RBI could cut the cash reserve ratio by 50bps, given that it has remained unchanged since 2013. The CPI inflation has been projected at 2.7-3.2 percent for the October-March period, the statement said .
    AgustaWestland middleman Christian Michel extradited

    AgustaWestland middleman Christian Michel extradited

    In coming days the worries of Sonia Gandhi and Ahmed Patel will be when they will be confronted with Michel by CBI and ED. At present, Michel is at the CBI headquarters in the national capital where he is being probed by the agency officials.
  • Racing Point will have new name for 2019 F1 season

    Racing Point will have new name for 2019 F1 season

    But the reboot proved successful from the off and after the final race of the season they finished 7th with 52 points. The Pink Panthers entered administration during the summer but emerged when Lawerence Stroll bought the team.
    Teacher's Pet podcast: Husband arrested over 1982 disappearance of wife

    Teacher's Pet podcast: Husband arrested over 1982 disappearance of wife

    Cook said the two additional witnesses interviewed as a result of the podcast were "not crucial, but they are corroborative". Magistrate Dennis Kinsella denied Mr Dawson's bail application, saying he was an unacceptable risk of failing to appear.
    Skype, PowerPoint become more accessible with live captions and subtitles

    Skype, PowerPoint become more accessible with live captions and subtitles

    This does not remove the fact that the features will also come in handy for other users within the Skype community. For showing subtitles and captions, the PowerPoint will support around 60 text languages.
  • Microsoft throws shade at the iPad, calls it a fake computer

    Microsoft throws shade at the iPad, calls it a fake computer

    Apple has been increasingly pushing the iPad and iPad Pro as a computer replacement for young kids despite all their limitations. And while a 10-year-old might have no need for a C compiler, that's actually also doable on iOS to a certain extent.

    America's Next Top Model Jael Strauss dies of breast cancer aged 34

    Jael Strauss has passed away at the age of 34 just three months after she was diagnosed with stage IV breast cancer on October 2. After moving into a hospice she took to Facebook to tell fans about her devastating diagnosis.
    Cardi B says she and husband Offset are 'not together anymore'

    Cardi B says she and husband Offset are 'not together anymore'

    The announcement comes just days after seemingly hinting at a full collaborative project in an interview with the New York Times . Cardi and Offset started dating in early 2017, and by October he publicly proposed to her at the Powerhouse concert in Philly.
  • France mulls wealth tax changes as protests intensify

    France mulls wealth tax changes as protests intensify

    The demonstrations took place as France joins other countries at the United Nations Climate Change Conference in Katowice, Poland. Since returning from the G20 summit in Argentina over the weekend, Macron's actions have done little to change that perception.
    Groundbreaking 10- minute cancer test developed by scientists

    Groundbreaking 10- minute cancer test developed by scientists

    We discovered that cancerous DNA has a strong affinity towards gold, which means it strongly binds to the gold particles . Researchers found cells for breast, prostate and breast cancer have a unique "signature" - a pattern of molecules on DNA.
    Yemen's Houthis head to Sweden for high-stakes peace talks

    Yemen's Houthis head to Sweden for high-stakes peace talks

    The International Committee of the Red Cross said it welcomed the announcement and would oversee and facilitate the exchange. Yemen has been wracked by violence since 2014, when the Houthi rebel group overran much of the country.