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Almost 40% Of World Bank's Recent Climate Funds Unaccounted For: Oxfam Audit
 [Barrons] Close to 40 percent of World Bank climate financing over the past seven years is currently unaccounted for, Oxfam said in a new report published Wednesday, blaming poor record-keeping. An Oxfam audit of the development lender's climate finance portfolio between 2017 and 2023 found that as much as $41 billion in climate finance could not be found "between the time projects were approved and when they closed." "The Bank is quick to brag about its climate finance billions — but these numbers are based on what it plans to spend, not on what it actually spends once a project gets rolling," Kate Donald, the head of Oxfam's Washington office, said in a statement. The World Bank has looked to boost its climate financing commitment under new president Ajay Banga, who took over last year on a pledge to reform the 80-year-old Washington-based institution. Re-enforces my belief that those jetting around to attend the dozens of "Elitist" Climate ______ meetings, never used a dime of their own money and in fact likely made $$ Millions doing so. Related: World Bank: 2024-10-27 Global anti-money laundering watchdog adds Lebanon to ‘gray list’ World Bank: 2024-10-23 Expensive war on Hamas and Hezbollah could force tough economic choices World Bank: 2024-10-12 Ukrainian Perspective: Invasion of Ukraine: October 11, 2024 Related: Ajay Banga 10/12/2024 Ukrainian Perspective: Invasion of Ukraine: October 11, 2024 Ajay Banga 06/20/2023 Ukrainian Perspective: Invasion of Ukraine: June 19th, 2023 Ajay Banga 04/17/2023 Biden World Bank Nominee: We Shouldn't See China as a Competitor in Developing World, We Need Everyone on Climate Posted by: NN2N1 2024-10-28 |
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