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this post was submitted on 02 Dec 2023
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Geography
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Geography is the study of places and the relationships between people and their environments. Geographers explore both the physical properties of Earth’s surface and the human societies spread across it. They also examine how human culture interacts with the natural environment and the way that locations and places can have an impact on people. Geography seeks to understand where things are found, why they are there, and how they develop and change over time. Read more...
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This is the best summary I could come up with:
DUBAI, Dec 1 (Reuters) - World Bank President Ajay Banga said on Friday the development lender will devote 45% of its annual financing to climate-related projects by 2025, up from a target of 35%, and extend debt repayment pauses following climate disasters.
Under the plan, he said that resources would be deployed equally for climate mitigation and adaptation in both the bank's main lending arm, the International Bank for Reconstruction (IBRD) and Development, and its fund for the poorest countries, the International Development Association (IDA).
The clauses provide for a suspension of repayments in the event of climate-related disasters such as cyclones or floods that can sap countries' resources.
Banga said that such pauses would now cover not only the principal repayments but also debt interest payments, leaving leaders to focus on maintaining access to food, water, power and other recovery efforts.
Founded as World War Two drew to a close to alleviate poverty, the bank is seeking under Banga to expand programmes to respond to climate change and hunger, while boosting its lending power with new funding and balance sheet rules.
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The original article contains 299 words, the summary contains 200 words. Saved 33%. I'm a bot and I'm open source!