World Bank Missing $41 Billion in Climate Funds – ‘40% of all disbursed climate funds’ can’t be accounted for – ‘Yet, climate activists are demanding $5 trillion in ANNUAL financing’
By Marc Morano
November 12, 2024
by Martin Armstrong
A new report by Oxfam, “Climate Finance Unchecked,” has determined that the World Bank has $41 billion in unaccounted funds that were destined to fight climate change.
This figure represents 40% of all disbursed climate funds by the World Bank. Oxfam’s audit revealed that between 2017 and 2023, between $24 billion and $41 billion simply went unaccounted for and there is absolutely no record of where the money went. No one knows how the money was used as there is no paper trail revealing where the money went.
“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,” said Kate Donald, Head of Oxfam International’s Washington D.C. Office. “This is like asking your doctor to assess your diet only by looking at your grocery list, without ever checking what actually ends up in your fridge.”
https://www.climatedepot.com/2024/11/12/world-bank-missing-41-billion-in-climate-funds-40-of-all-disbursed-climate-funds-cant-be-accounted-for-yet-climate-activists-are-demanding-5-trillion-in-annual-financing/