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The Guardian - UK
The Guardian - UK
Business
Fiona Harvey Environment editor

Billions more in overseas aid needed to avert climate disaster, say economists

People walk outside the International Monetary Fund building hosting the climate talks
The IMF and World Bank spring meetings in Washington DC are attended by finance ministers and central bank governors from around the world. Photograph: Shawn Thew/EPA

Governments of wealthy countries must pledge hundreds of billions more in overseas aid payments channelled through the World Bank to avert the worst effects of the climate crisis, civil society experts and economists have said.

The International Development Association fund, the arm of the World Bank that disburses loans and grants to poor countries, is worth about $93bn (£b75n) but that figure must be roughly tripled by 2030, according to economic experts.

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