International Bank for Reconstruction and Development and International Development Association

International

Type: International
Date approved: 07 Jul 2015
Size: Large
ESS Category: Category A, Intermediation 1
Fiduciary standards: Basic, Project management, Grant award, On-lending/blending (Loan), On-lending/blending (Guarantee)

The International Bank for Reconstruction and Development and International Development Association (World Bank) is an international organization with a strong global presence and mandate to reduce poverty by promoting sustainable economic development. World Bank works in partnership with developing countries through national governments in order to support the coordinated delivery of its projects and programmes in various sectors and through the use of various financial instruments, including grants, loans and guarantees. Over the past few years, World Bank has provided over US$ 30 billion in finance for climate change related activities globally. It is engaged in climate change mitigation across all sectors and regions. Its work in mitigation covers renewable energy generation, energy efficiency and access, forestry and sustainable transport projects and programmes. In addition, it has supported the least developed countries, small island developing States and other vulnerable countries in climate change adaptation by financing projects in disaster risk reduction and ecosystem services in sectors such as fisheries and water resources management. Bringing with it its experience in climate change mitigation and adaptation programming, and utilizing its knowledge and delivery infrastructure to enhance direct access to climate finance by developing countries, World Bank sought accreditation to the GCF.