Powering the Transition: World Bank and other IFI energy lending in Asia
This year, the World Bank is holding its Annual Meetings in Asia. This is a region that will be key to the success of the global energy transition, and at the same time has much to lose if it does not happen fast enough, because its people are so vulnerable to climate change.
The most climate-vulnerable Asian countries are spearheading a new form of climate leadership and have set visionary goals. How can the World Bank, together with other international financial institutions (IFIs), support them to turn these bold commitments into reality?
This paper examines current and planned IFI energy sector support in Asian climate-vulnerable countries. It shows how this is not yet fit for purpose, and recommends how IFIs can intervene at this critical juncture to give governments the confidence to accelerate the transition to renewable energy for all.