World Bank, IMF Pledge Climate Aid Commitment

Leaders of the World Bank and International Monetary Fund (IMF) have pledged to collaborate with incoming U.S. President Donald Trump to ensure financial support for developing nations facing climate change challenges. IMF chief Kristalina Georgieva expressed optimism regarding continued U.S. private sector investment in green technologies, stating that it is essential for competitiveness. While Trump's election raises concerns about a potential withdrawal from global climate efforts, both institutions aim to maintain their funding capabilities. World Bank President Ajay Banga acknowledged Trump's significant electoral victory and highlighted the importance of respect and dialogue, focusing on enhancing operational efficiency and attracting private investment. The ongoing U.N. COP29 climate summit aims to raise substantial funds for a global transition to cleaner energy sources. The potential impact of U.S. policy on climate finance remains a pivotal concern for the IMF and World Bank.