Washington, 29 June 2026 – The World Bank will abandon its target of allocating 45% of annual lending to projects with climate co-benefits, marking a major shift in how the development lender frames climate finance amid renewed pressure to focus on economic growth, jobs and core development outcomes.
The target was adopted in 2023 as part of a broader effort to increase climate-related financing and position the World Bank more strongly in the global response to climate change. Under the target, the institution aimed to channel a large share of annual lending into projects that delivered climate benefits alongside development impact.
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