Making sure the money for climate action in MENA is being spent efficiently
Climate finance is an essential component to enabling climate action, and large-scale investments are needed. The WBG, the biggest multilateral funder of climate investments in developing countries, delivered over US$109 billion in climate financing between 2016 and 2021, including a record $26 billion in FY2021. The WBG’s Climate Change Action Plan (CCAP) committed US$25 billion on average in annual financing between fiscal years 2021 to 2025 for initiatives that lower Greenhouse Gas (GHG) emissions and foster adaptation, while reducing poverty and improving development outcomes.
Source: worldbank.org
