No Blank Check for Development Banks
The kind of large-scale, sustainable infrastructure projects needed to forestall catastrophic climate change are rarely attractive investments for the private sector or even most governments. That means development banks have a crucial role to play, so long as they put the climate first.
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NEW YORK – Global financial leaders are convening in Washington, DC, this week for the annual spring meetings of the World Bank Group and the International Monetary Fund. This year, they will ask the world’s taxpayers to grant the World Bank and other multilateral development banks (MDBs) more capital to fill global infrastructure gaps.