A new report by Oxfam which was published ahead of the IMF and World Bank Annual Meetings claims that nearly 40 percent of all climate funds disbursed by the Bank over the past seven years is unaccounted for due to poor record-keeping practices. According to Oxfam “There is no clear public record showing where this money went or how it was used, which makes any assessment of its impacts impossible. It also remains unclear whether these funds were even spent on climate-related initiatives intended to help low- and middle-income countries protect people from the impacts of the climate crisis and invest in clean energy.”
