Climate Change: World Bank Offers Over 115,000 Billion FCF

Climate change prevention and mitigation efforts received a major boost from the World Bank Group on December 3, 2018 with the announcement that it will invest +about 200 billion US dollars (about 115,487.9 billion FCFA) for the period 2021-2025.

According to a statement on the Group’s website, the amount, which is double current funding, is meant to improve “support for adaptation and resilience, recognizing mounting climate change impacts on lives and livelihoods, especially in the world’s poorest countries.” “We are pushing ourselves to do more and to go faster on climate and we call on the global community to do the same. This is about putting countries and communities in charge of building a safer, more climate-resilient future,” World Bank Group President, Jim Yong Kim said.

The new financing will ensure that adaptation is undertaken in a systematic fashion, and the World Bank will develop a new rating system to track and promote the global progress. Actions will include supporting higher-quality forecasts, early warning systems and climate information services to enable 250 million people in 30 developing countries better prepare for climate change risks. In addition, the expected...