Climate Finance | $31.7 billion in fiscal year 2022 – World Bank Group

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With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.  
The World Bank Group works in every major area of development.  We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face.
We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress.
Financing focuses on helping countries reduce GHG emissions and adapt to mounting impacts of climate change
WASHINGTON, September 7, 2022The World Bank Group delivered a record $31.7 billion in fiscal year 2022 (FY22) to help countries address climate change.
“In our last fiscal year ending June 2022, we provided a record $31.7 billion to countries to identify and enable high-priority climate-related projects as part of their development plans.” said David Malpass, President of the World Bank Group. “We will continue providing solutions to pool funding from the global community for impactful and scalable projects that reduce GHG emissions, improve resilience, and enable the private sector.”
Financing for climate action in FY22—which covers July 1, 2021, to June 30, 2022—reached 36% of total Bank Group financing. This exceeds the target set in the Group’s Climate Change Action Plan for 2021-2025 to deploy an average of 35% of the institution’s financing in support of climate action.
IBRD and IDA together delivered $26.2 billion in FY22 in climate finance. Nearly half of that—$12.9 billion—specifically supported investments in adaptation and resilience. IFC, the private sector arm of the World Bank Group, delivered an unprecedented $4.4 billion in climate finance and mobilized an additional $3.3 billion from other sources. MIGA, the World Bank Group’s political risk insurance and credit enhancement arm, delivered $1.1 billion in climate finance.
As part of its ongoing effort to help countries integrate climate and development objectives, the Bank Group recently launched a number of Country Climate and Development Reports (CCDRs). CCDRs are a new core diagnostic to help countries prioritize the most impactful actions that can reduce GHG emissions and boost adaptation. A summary of the preliminary findings of these reports will be published in coming months to foster action-oriented discussion in the global community.

Feature Story: World Bank Group Exceeds New Climate Finance Target – $31.7 Billion in Funding for Climate Action
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