COP29: World Bank, EIB commit $120bn in climate finance for Nigeria, others

BUSINESS DAY NG
A group of 10 multilateral banks, including the World Bank, European Investment Bank and Asian Development Bank, has pledged $120 billion annually by 2030 to boost climate finance to low and middle income countries.

This took place on Tuesday at the ongoing COP29 in Baku, Azerbaijan, where the banks also committed $42 billion for adaptation to the effects of extreme weather.