Dear World Bank, poverty is more urgent than global warming
The World Bank’s self-proclaimed “new course” towards focusing on global warming over poverty reduction is an alarming development for the planet’s poorest.
The planet’s biggest provider of non-private financing to developing countries will increase climate-related aid by one-third, meaning that by 2020 these efforts will amount to about $US29 billion ($38bn) a year. Every single dollar that the World Bank spends will “take account of climate change”.