Wolrd Bank

COP28 Finance Day unlocked significant progress on international financial architecture reform to support low-income and vulnerable countries fight climate change. Major international financial institutions and countries made new commitments to offer climate-resilient debt clauses (CRDCs) in their lending. These clauses allow debt service to be paused to provide breathing space when countries are hit by climate catastrophes. The UK, France, World Bank, Inter-American Development Bank (IDB), European Investment Bank (EIB), […]