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October 11, 2023

What does a ‘better’ World Bank mean for the climate?

World Bank headquarters, Washington. The bank would put 50 per cent of its money aimed at tackling climate change into mitigation and 50 per cent into adaptation, says president Ajay Banga (Photo: Daniel Slim/AFP via Getty Images)
World Bank headquarters, Washington. The bank would put 50 per cent of its money aimed at tackling climate change into mitigation and 50 per cent into adaptation, says president Ajay Banga (Photo: Daniel Slim/AFP via Getty Images)

World Bank president Ajay Banga plans to start measuring performance based on outputs, rather than inputs, as the organisation tackles global challenges. But ending financing for fossil fuel-related activities doesn’t appear to be on the agenda for now Ajay Banga wants to build a “better” World Bank, one evaluated on...

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