{"id":629467,"date":"2023-04-14T06:32:00","date_gmt":"2023-04-14T11:32:00","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/14\/world-banks-baby-steps-climate-weekly\/"},"modified":"2023-04-14T06:32:00","modified_gmt":"2023-04-14T11:32:00","slug":"world-banks-baby-steps-climate-weekly","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/14\/world-banks-baby-steps-climate-weekly\/","title":{"rendered":"World Bank\u2019s baby steps \u2013 Climate Weekly"},"content":{"rendered":"

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As finance ministers gathered in Washington DC for the World Bank\u2019s spring meeting this week, they approved one reform<\/a> and drew battle lines over other changes.<\/strong><\/p>\n

A change in the equity-to-loan ratio from 20% to 19% doesn\u2019t sound like much, but it will free up $4 billion a year for the bank to invest \u2013 about a third of which should go to climate projects.<\/p>\n

Tweaks like that won\u2019t fix the climate crisis though and reformers want more. Some want the ratio to go down further, although powerful credit rating agencies will have to be kept onside.<\/p>\n

And developing countries want to go beyond just accounting tweaks. They called<\/a> for governments to give the bank more money.<\/p>\n

But rich nations aren\u2019t keen. The foreign minister of Switzerland blamed \u201cscarce public resources\u201d this week while the US and co are thought to fear China will increase its voting power at the bank by giving it the most money.<\/p>\n

This week\u2019s stories<\/strong><\/p>\n