IFC: we need more concessional funds for the green transition

Development banks are increasingly looked upon to provide funding and attract private investment in countries that most need it to transition to net zero. The World Bank’s private sector arm says more below-market rate capital is needed

During Climate Week NYC, Sustainable Views led a conversation on the role of blended finance in the green transition with Susan Lund, vice-president for economics and private sector development at the World Bank’s private sector arm, the International Finance Corporation; and Mark Hutchinson, chief executive of Fortescue Future Industries, the renewable energy company that is part of iron ore conglomerate Fortescue Metals Group.