The World Bank’s New Focus on Climate Threatens World’s Poorest Nations, Researchers Say

The World Bank’s plan to focus future efforts on climate change will have a disproportionately negative impact on its poorest client nations, despite those same countries having repeatedly reported that they would prefer the bank focus on other issues, researchers at the Center for Global Development (CGD) reported Thursday.

The Biden administration named former MasterCard CEO Ajay Banga as its nominee to replace the outgoing Trump appointee David Malpass as president of the World Bank Thursday, a key step in the administration’s efforts to refocus the agency from poverty prevention and take more climate action. However, just 6% of public and private representatives from 43 client nations listed climate change as one of the top three issues facing their country, according to a review of surveys conducted by the World Bank in 2020 and 2021, the GCD researchers reported.

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