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World Bank to abandon goal to devote 45% of lending resources to climate change projects
The World Bank Group said on Monday it will "retire" its previous goal to devote 45% of its annual lending resources to projects with climate co-benefits, but extend its longstanding Climate Change Action Plan that was due to expire on Tuesday. The development lender, which had been under pressure from the Trump administration to abandon the climate lending target adopted during the Biden administration in 2023, said in a statement it would complete a shift to focusing on lending outcomes rather than input goals. [...]