Q&A: How will the World Bank’s abandoned finance goal affect climate action?

The World Bank has abandoned a target for 45% of the funding it gives developing countries to be “climate finance”, following months of pressure from the Trump administration in the US.

However, a concerted effort by developed- and developing-country shareholders has seen the bank hold onto its “action plan” for tackling climate change.

The multilateral development bank (MDB) – which is headquartered in Washington DC – is the single largest provider of climate finance globally, distributing $39.2bn in 2025 alone, primarily as loans.

Amid widespread aid cuts by developed countries, the World Bank and other MDBs have previously pledged to significantly scale up their climate finance over the next decade.

Despite scrapping its central target, the bank says it will

Original Record.

This archived record authored by ‘Josh Gabbatiss’ at ‘Carbon Brief’ was recovered from data set:

https://www.carbonbrief.org/qa-how-will-the-world-banks-abandoned-finance-goal-affect-climate-action/