The World Bank
The World Bank is a central source of financial aid and assistance to developing countries. Furthermore the bank provides technical support for development projects. The World Bank has 185 member countries and is organised in two main bodies, i.e. the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The headquarters of the bank are placed in Washington D.C.
The IBRD seeks to reduce poverty in poorer middle-income countries by providing loans, financial guarantees, advice and more. The IDA is the organ of the World Bank dealing with the poorest countries and has developed special products for financial supports in the form of interest-free loans and grants.
The World Bank will play a vital role in helping developing and poorer countries respond and adapt to present and future impacts of climate change.
The World Bank bodies already support more than 200 environmental projects linked to the climate change issue. The projects, to a large extent, are carbon offset projects.
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