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World Bank Hikes Aid To Poor Nations Fighting Global Warming


The World Bank is boosting spending on climate change by 50 percent to help poorer countries battle global warming and power 150 million homes with renewable energy.

The bank released a 59-page climate action plan Thursday designed to help less developed nations meet global warming goals that countries set last December in Paris. The international financial organization plans to increase its $2.3 billion-a-year spending on climate change to $3.5 billion a year by 2020. Officials hope to spur $13 billion a year in similar private investments.

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The bank also plans to help developing countries add 30 gigawatts of electricity to power 150 million homes without emissions of heat-trapping gases.

“We’re making climate change a central part of everything we’re doing,” said John Roome, the bank’s senior director for climate change.

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