News / #World Bank
The UK government has reclassified nearly £500m of aid for war-torn and impoverished countries as “climate finance”, in a bid to meet its international commitments under the Paris Agreement.
Kuala Selat village lies on the coast of Indragiri Hilir district on the Indonesian island of Sumatra. In the first half of the year, residents of the village arrange buckets and drums to collect rainwater to meet their daily needs. They will then stockpile water to last through the dry months from June to September, but a longer dry spell has led to an acute shortage of water.
The World Bank and International Monetary Fund (IMF) held their spring meetings last week in Washington DC – a key event in a critical year for international climate finance.
Cambodia’s reliance on microloans, long touted as a way to reduce poverty, belies concerns over debt-fuelled deforestation.
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