Developing countries want rich, polluting nations to supply many billions of dollars to address climate damage. And they distrust Washington's motives.
The Biden administration’s proposal to put the World Bank in charge of a fund that would pay poorer countries suffering irreversible climate damage is threatening to rattle U.N. climate talks that begin next month in Dubai.
Washington The World Bank is seeking to vastly expand its lending capacity to address climate change and other global crises and will negotiate with shareholders ahead of April meetings on proposals that include a capital increase and new lending tools, according to an “evolution road map” seen by Reuters on Monday. The road map […]