Climate Change Convention: Finance
(asked on 6th June 2025) - View Source
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what discussions he has had with the World Bank on aligning new financial flows with the timelines of the Paris Agreement.
Answered by
Catherine West
Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)
The World Bank Group's International Development Association and International Bank of Reconstruction and Development have aligned all their new financial operations with the Paris Agreement since 1 July 2023.
The Foreign Secretary and the Minister for Development met with World Bank Group President Ajay Banga on 4 June 2025 and they discussed the Bank's upcoming energy strategy.
The Group remains committed to align the rest of its institutions, the International Financial Corporation and the Multilateral Investment Guarantee Agency, with the Paris agreement in their new financial operations from 1 July 2025.