World Bank seeks more money to address climate change, other crises, document shows

The IBRD’s $13 billion capital increase in 2018 was designed to prepare for “one medium-sized crisis a decade, not multiple, overlapping crises” including the COVID-19 pandemic, the war in Ukraine, and climate change. Accelerating effects are included, the document said. The IBRD’s crisis buffer is likely to be exhausted by mid-2023, it said. Another option, […]