The World Bank expands financing for climate projects
Photo: World Bank expands financing for climate projects (Getty Images)
The World Bank has planned to expand financing for climate projects. Currently, the institution is collaborating with the leaders of 15 international banks, according to Bloomberg.
During its collaboration with banks, the institution has focused on approaches necessary to assist developing countries in adapting to climate change and transitioning to clean energy.
The World Bank has allowed certain countries to potentially suspend debt payments and has organized a fund to compensate for climate change damage.
The bank's objective is to create a much more streamlined set of guarantee products that could be used in various markets.
Earlier, it was reported that the World Bank will provide Ukraine with an additional aid package of $610 million.
Recall that in early December, World Bank President David Malpass noted that the bill for Ukraine's recovery is increasing, but there is no "donor fatigue".
