Banking on growth, only
Environment is very low on the list of priorities of the World Bank. It does not give grants. It lends money only to credit-worthy borrowers and to projects that promise high rates of economic return to the donor countries and the bank. Environmental projects are given low priority because the returns are minimal. Similarly, the United Nations Environmental Programme (unep) has the smallest budget among all development agencies in the United Nations and its fortunes are declining every year.
Related Content
- Malawi economic monitor: addressing macro and gender imbalances
- Central Africa Economic Outlook 2021
- Distributional impacts of COVID-19 in the Middle East and North Africa region
- East Africa economic outlook 2021
- Understanding drivers of decoupling of global transport CO2 emissions from economic growth: evidence from 145 countries
- No time to lose, says Sunita Narain on the new IPCC report