The World Bank will make $200 billion available to developing countries to help them manage climate change. The loan will be disbursed between 2021 and 2025. Compared to the previous five-year period, the amount has doubled.
The World Bank's announcement came immediately after the start of the UN climate conference in Poland. According to the institution itself, the new substantial funding also represents "an important signal to the international community to do the same".
For their part, developed countries have promised to invest $100 billion to support climate policies in developing countries.
“The threat to humanity has never been greater. We are at a crossroads - said the UN head of climate, Patricia Espinosa, opening the COP24 conference in Katowice - This year will probably be one of the four hottest years ever recorded. The impact of climate change has never been worse. We have to do much more, COP24 must make it possible”.
