It’s “about being smarter with our capital basis and adding significant multiplier effects,” CEO Tariye Gbadegesin told Bloomberg.
A multilateral climate fund is preparing to access capital markets for the first time, as governments balk at providing the extra financing needed to cut global emissions.
The Climate Investment Funds, a US$12 billion ($16.15 billion) fund inside the World Bank, is planning a roughly US$500 million bond issuance, with proceeds intended to spur investment in renewable energy and new technologies in developing economies over the next five to 10 years.
