The World Bank

NEWS | Multilateral Development Banks to boost climate finance with $120 billion per year for low and middle income countries by 2030. http://wrld.bg/cLcW50U558q #COP29 African Development Bank Group Asian Development Bank (ADB) Asian Infrastructure Investment Bank (AIIB) CEB - Council of Europe Development Bank EBRD European Investment Bank (EIB) Inter-American Development Bank Islamic Development Bank (IsDB) New Development Bank (NDB)

Access to electricity is a fundamental human right & is foundational to any successful development effort. The World Bank Group & African Development Bank Group have partnered to provide electricity access to at least 300 million people in Africa by 2030. Learn more: http://wrld.bg/pUQf50U6uK4 #COP29 #PoweringAfrica

LIVE at #COP29 | Nearly 600 million people in Africa lack access to basic electricity, affecting nearly every aspect of daily life. Makhtar Diop, Jacqueline Novogratz (Acumen) and Akihiko Nishio discuss how innovative financing approaches, such as specialized funds, can mobilize capital to expand access to affordable and sustainable electricity in the hardest-to-reach places. #PoweringAfrica

How is MIGA driving climate finance at scale? The new World Bank guarantee platform, launched at MIGA, consolidates all our guarantee products and expertise, making climate finance more efficient, simple, and fast. Here's how it helps unlock private capital for climate action: ➡️ One-stop shop ➡️ Simplified product menu ➡️ Faster processing ➡️ Global accessibility ➡️ Focused resources ➡️ Innovative solutions Learn more: http://wrld.bg/ilbc50U6ufE #COP29 #ClimateFinance #SustainableDevelopment

How can high-integrity carbon markets drive climate impact and development? Join us for the launch of MIGA’s letter of authorization template administered by the WBG Guarantee Platform, a public good for securing insurability rights and standardizing host government commitments to investors. #COP29

The World Bank Group Scorecard tracks our progress on critical global challenges like access to water, digital services, and private investment. On #ClimateChange, the World Bank's operations are estimated to reduce over 300 megatons of CO2 equivalent every year- roughly equivalent to the annual emissions from 1/4 of all cars in the European Union. Learn more: http://wrld.bg/wKY650U5FMZ #COP29

As IDA prepares for its 21st replenishment round, a cross-section of stakeholders and climate advocates discussed the attributes that make IDA an effective vehicle for climate action and opportunities to scale-up climate action in the future. #COP29 Speakers - Akihiko Nishio, Development Finance Vice President, World Bank - Feleit Penitala Teo, Prime Minister, Tuvalu - Salah Ahmed Jama, Deputy Prime Minister, Somalia - Andonirina Fontaine, Minister of Environment and Sustainable Development, Madagascar - Grace Malie, Rising Nations Youth Delegate, Climate Activist, Tuvalu

To tackle poverty and protect our planet, countries must enhance resilience to climate change and cut greenhouse gas emissions. The World Bank's Country Climate and Development Reports (CCDRs) aid in aligning development and climate efforts in 72 nations.   These reports highlight the importance of investing in education, health, and infrastructure, especially in vulnerable lower-income countries facing significant productivity losses. Wealthier nations must also take action to reduce emissions. A people-centered approach, supported by the CCDRs, can promote inclusive growth while addressing climate challenges. Download here: http://wrld.bg/Fb1N50U5nU3 #COP29

Day 2 of #COP29 marked a major step forward in our mission of ending poverty on a livable planet, with key announcements from The World Bank and global partners. Key highlights from today: ➡️𝗠𝘂𝗹𝘁𝗶𝗹𝗮𝘁𝗲𝗿𝗮𝗹 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝗕𝗮𝗻𝗸𝘀 𝘁𝗼 𝗕𝗼𝗼𝘀𝘁 𝗖𝗹𝗶𝗺𝗮𝘁𝗲 𝗙𝗶𝗻𝗮𝗻𝗰𝗲  – Multilateral development banks (MDBs) joined the call for urgent climate action and issued a joint statement outlining financial support and other measures for countries to achieve ambitious climate outcomes. 𝗥𝗲𝗮𝗱 𝘁𝗵𝗲 𝗽𝗿𝗲𝘀𝘀 𝗿𝗲𝗹𝗲𝗮𝘀𝗲: http://wrld.bg/HiTN50U5ljw ➡️𝗡𝗲𝘄 𝗥𝗲𝗽𝗼𝗿𝘁: 𝗣𝗲𝗼𝗽𝗹𝗲 𝗶𝗻 𝗮 𝗖𝗵𝗮𝗻𝗴𝗶𝗻𝗴 𝗖𝗹𝗶𝗺𝗮𝘁𝗲: 𝗙𝗿𝗼𝗺 𝗩𝘂𝗹𝗻𝗲𝗿𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝘁𝗼 𝗔𝗰𝘁𝗶𝗼𝗻 – This publication presents a selection of key findings from the first three years of Country Climate and Development Reports, with 58 reports covering 72 countries and economies published by November 2024 and underscores the urgent need to protect vulnerable populations and highlights effective adaptation solutions. 𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝘁𝗵𝗲 𝗿𝗲𝗽𝗼𝗿𝘁: http://wrld.bg/xvvK50U5mgt ➡️𝗪𝗼𝗿𝗹𝗱 𝗕𝗮𝗻𝗸 𝗘𝘅𝗽𝗮𝗻𝗱𝘀 𝗗𝗶𝘀𝗮𝘀𝘁𝗲𝗿 𝗦𝘂𝗽𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝗦𝗺𝗮𝗹𝗹 𝗦𝘁𝗮𝘁𝗲𝘀 – A vital new initiative to support small nations recovering from natural disasters, providing resources to help rebuild stronger and safer. 𝗥𝗲𝗮𝗱 𝘁𝗵𝗲 𝗽𝗿𝗲𝘀𝘀 𝗿𝗲𝗹𝗲𝗮𝘀𝗲: http://wrld.bg/93mt50U5nnT ➡️𝗦𝗲𝘁𝘁𝗶𝗻𝗴 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝘀 𝗳𝗼𝗿 𝗖𝗹𝗶𝗺𝗮𝘁𝗲 𝗜𝗺𝗽𝗮𝗰𝘁 – The publication, "A Common Approach to Measuring Climate Results," offers a unified framework for tracking climate progress, ensuring transparency and accountability. 𝗥𝗲𝗮𝗱 𝗺𝗼𝗿𝗲: http://wrld.bg/vCVX50U5noC

Climate change, if not addressed urgently, may push over 130 million into extreme poverty by 2030. At #COP29, on Nov 13, World Bank's Akihiko Nishio will join Tuvalu Prime Minister Feleti Penitala Te, Somalia Deputy Prime Minister Salah Jama, Madagascar Minister of Environment and Sustainable Development Max Andonirina Fontaine and Rising Nations Youth Delegate Grace Malie to discuss how #IDAworks to boost adaptation. Add to calendar: http://wrld.bg/hKr750U5i3R #COP29