Task Force Urges World Bank and IMF to Prioritize Climate
A new report calls for the World Bank and IMF to reform their lending models to drive the clean-energy transition and help developing countries withstand climate shocks.
Economists from Asia, Africa, and other regions are urging international financial institutions to reform their loan frameworks and mobilize more resources to help developing countries transition off fossil fuels and become climate-resilient.
Key Recommendations
- Restructure lending models to drive the clean-energy transition
- Mobilize more resources to help developing countries withstand climate shocks
- Reform loan frameworks to support developing countries in transitioning off fossil fuels
The report lays out five guiding principles for the World Bank and the IMF to restructure their mandates and financing policies and mobilize significantly more private and public capital that developing countries need to decarbonize.
Author's summary: World Bank and IMF urged to prioritize climate change.
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