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 policies to prioritize climate change
- Mobilize more private and public capital for developing countries to decarbonize
The report lays out five guiding principles for the World Bank and the IMF to restructure their mandates and financing policies.
A report by the Task Force on Climate, Development and the International Financial Architecture was released during the annual meetings of the World Bank and IMF in Washington, D.C.
The author summarizes: World Bank and IMF must reform lending policies to address climate change.