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Action Plan on Climate Change Adaptation and Resilience

Action Plan on Climate Change Adaptation and Resilience

The World Bank Group’s new Action Plan on Adaptation and Resilience is important and timely. It lays out a strategy to boost our efforts on adaptation and resilience, with three areas of focus:

First, through our two funds for low-income and middle-income countries (IDA and IBRD), we will boost direct adaptation financing to $50 billion over FY21-25, more than double what was achieved during FY15-18. This puts adaptation finance on par with our investments in climate change mitigation.

Second, we will support countries to take a mainstreamed approach to adaptation so that climate risks are managed at every phase of policy planning, investment design, and implementation.

Third, we will develop a new rating system to incentivize investments in adaptation and resilience, and improve tracking.