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Beijing must be more ready to support countries facing distress, says deputy chief economist

India is pushing for climate adaptation action despite the lack of a framework. Six states require $5.5 billion annually. Economic challenges and borrowing constraints limit investment. The Climate Policy Initiative recommends involving adaptation interventions in fund distribution for transparency and informed decision making.

India News: India is yet to create a common framework for evaluating risks due to climate change and a systematic methodology for ascertaining the extent to which development programmes address climate risk and vulnerability, according to a new report released on Wednesday.

The World Bank issues a warning about the significant increase in borrowing costs for developing nations, which poses challenges to boosting economic growth. International bond sales from emerging market governments have reached a record high of $47 billion in January, with some riskier issuers facing higher interest rates.

The World Bank warned that high borrowing costs have "changed dramatically" the need for developing nations to boost sluggish economic growth. The multilateral lender's latest warning comes as international bond sales from emerging market governments hit an all-time record of $47 billion in January, led by less risky emerging economies such as Saudi Arabia, Mexico and Romania. Kose added that faster growth, especially a real growth rate higher than the real cost of borrowing, could prove elusive.