But the official announcement appears to include $50 billion for *adaptation to* climate change.
The headline also omits his words "over five years".
Text: "The World Bank is to make about $200bn (£157bn) available".
But the World Bank president in fact said it was "investing and *mobilizing* " $200bn, though its own headline may mislead.
worldbank.org/en/news/press-…
"Of the $200bn...half will be loans and other forms of assistance
*from other parts of the World Bank group*, aimed at mobilising
*further* finance from the private sector."
"combined direct finance from [the World Bank Group] and
*private capital* mobilized by the World Bank Group"
- not specifying how much is public money.
"Take urgent action to combat climate change and its impacts".
From the World Bank Group 2016 Climate Action Plan:
"the WBG’s commitment to increase the climate-related share of its portfolio from 21 to 28 percent by 2020..."
(2016 World Bank Climate Action Plan)
So it is not clear how $40 billion a year in 2021-25 is "doubling of current five-year plan" in any case.
"In 2018, the World Bank Group provided...$20.5 billion in finance for climate action...meeting its 2020 target two years ahead of schedule".
"This year, the World Bank
*devoted* $20.5bn
*to climate change*,
meeting *the targets* it promised as
*part of the Paris agreement*
two years early. "
Some questions:
Does "devoted" mislead - was some in fact private money?
...
Is the Guardian wise to repeat the World Bank claim about $20.5 billion?
Which World Bank climate funding targets, plural, is the Guardian referring to as "met"?
The Paris agreement has, for "developed" countries, "the goal of jointly providing USD 100 billion annually by 2020".