‘Breach Of Trust’: Oxfam Finds Nearly $41 Billion In Climate Cash Missing From World Bank
by Owen Klinsky Oct 18, 2024
Up to $41 billion of the funds distributed to climate causes by the World Bank between 2017 and 2023 are unaccounted for due to poor accounting standards, according to an audit from Oxfam International published Thursday. [emphasis, links added]
The enormous sum represents almost 40% of the climate funds the Bank disbursed during the seven-year period, with World Bank data failing to show the recipients and uses of the money, the Oxfam investigation found.
“The Bank is quick to brag about its climate finance billions — but these numbers are based on what it plans to spend, not on what it actually spends once a project gets rolling,” Kate Donald, head of Oxfam International’s Washington D.C. Office, said in the release.
https://climatechangedispatch.com/breach-of-trust-oxfam-finds-nearly-41-billion-in-climate-cash-missing-from-world-bank/
