Conflicting Opinions Unleash Stage Drama at COP28: Assessing the Controversial Outcomes of Key Climate Talks

BENGALURU, India (AP) — Tense negotiations concluded in Abu Dhabi on a climate-related loss and damages fund with an agreement that the World Bank will temporarily host the fund for the next four years. This fund aims to provide support to developing countries severely affected by the consequences of global warming. Despite disappointment from the …

Read more

World Bank Set to Lead Climate Loss and Damage Fund Amid Growing Worries: Exploring Solutions

By Gloria Dickie and Valerie Volcovici Countries took a significant step forward on Saturday toward establishing a fund to assist poor states affected by climate-related disasters, despite concerns from developing nations and the United States. The creation of a “loss and damage” fund was hailed as a major breakthrough for developing countries during United Nations …

Read more

Biden Endorses World Bank for Enhanced Global Influence as a Countermeasure to China

During the G20 leaders’ summit, U.S. President Joe Biden called on G20 leaders to support the World Bank and other multilateral development banks to increase their ability to support low and middle-income countries. From left, World Bank President Ajay Banga, Brazil’s President Luiz Inacio Lula da Silva, India’s Prime Minister Narendra Modi, South Africa’s President …

Read more