(Adds comments from World Bank president)
WASHINGTON, Dec 9 (Reuters) - The World Bank said on Wednesday it was setting a new five-year target for 35% of its financing, on average, to have climate co-benefits, up from a 28% target for the previous five-year period ended in 2020.
The multilateral development lender also said half of the climate-related financing would be done by its main units - the International Bank for Reconstruction and Development and the International Development Association - and would be aimed at supporting climate adaptation and resilience projects. Climate change presents critical challenges to our development efforts, World Bank President David Malpass, a former Trump administration Treasury official, said in a statement.
World Bank boosts climate-friendly financing to 35% over 5 years
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