World Bank urges spending on ‘climate-friendly’ infrastructure

Friday, February 22, 2019

By Simone Rensch

Spending an average of 4.5% of GDP on ‘climate-friendly’ infrastructure could help developing countries achieve the Sustainable Development Goals.

This is according to the World Bank, which called for countries to shift their focus from “spending more” to “spending better”, to achieve the SDGs commitments, in a report on Wednesday.

By allocating 4.5% of GDP on greener infrastructure, countries could deliver what the World Bank called ‘climate-smart’ infrastructure.

This would help the countries achieve the SDGs that are linked to good infrastructure, such as no poverty, good health, water and sanitation, and sustainable cities and communities.

It could also assist these nations with staying on track to limit climate change to up to 2 degrees, if the ‘right’ policies were put in place alongside the investment, the report said.

Photo courtesy of Leander Wattig.

Source: Public Finance International (link opens in a new window)

climate change, climate finance, global development, infrastructure, SDGs