Climate Change: World Bank Collaborates With Global Covenant Of Mayors, Provides Over $4 Billion Funding

As part of the World Bank’s City Resilience Program (CRP) which is designed to assist local governments’ efforts at improving resilience and evolving to the ever-changing impacts of climate change, the World Bank has collaborated with the Global Covenant of Mayors for Climate & Energy to provide technical assistance and $4.5 billion in funding to help cities around the world better prepare for and respond to the impacts of climate change.

Under the umbrella of the CRP, the World Bank collaborated with the Global Covenant of Mayors for Climate & Energy, which combines the Compact of Mayors and the EU Covenant of Mayors and which is led by UN Secretary-General’s special envoy for cities and climate change, Michael Bloomberg, and European Commission Vice President, Maros Sefcovic.

The World Bank has, in recent times, worked with numerous global and regional organisations to develop initiatives that improve the resilience of cities and countries against the impacts of extreme weather and climate-related events.

World Bank President, Jim Yong Kim.

World Bank’s collaboration with the Global Covenant of Mayors for Climate & Energy includes an investment of $4.5 billion to ensure 150 cities have the funds to develop and implement initiatives to increase both the sustainability and resilience of cities in their fight against climate change.

According to the President of the World Bank Group, Jim Yong Kim, there is a need to plan and build more resilient cities, as the force of natural disasters intensifies.

“We are proud to partner with the Global Covenant of Mayors to do just that. With the World Bank’s investment of $4.5 billion in cities, we can support local leaders to protect people from the impacts of climate change”, he added.

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