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World Bank & IMF Boost International Climate Funding

October 12, 2015

Over the weekend, thousands of the world’s finance ministers and central bankers from 188 countries of the world gathered in Lima, Peru, for the annual meetings of the World Bank and the International Monetary Fund. The two United Nations groups focus on long-term economic development and macroeconomic issues, respectively.

While not a part of the UNFCCC’s official climate change program, the meetings held tremendous importance in clarifying and solidifying the multinational $100 billion goal by 2020 for climate finance to less-developed countries. Previous rounds of UN talks determined this figure. Its achievement is critical in the negotiations to reach a planet-wide approach to climate change in December’s Paris meeting.

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