German Development Minister Calls on Rich Owner States of World Bank to Increase Funding for Poverty and Climate Protection

BERLIN (dts news agency) – Development Minister Svenja Schulze (SPD) has called on the rich owner states of the World Bank to follow Germany’s example and make more funds available for loans to combat poverty and for climate protection measures. “The global sustainability goals cannot be achieved without more money,” said the SPD politician to the “Editorial Network Germany” (Thursday edition) before the meetings of the World Bank committees at the autumn meeting with the International Monetary Fund (IMF) in Marrakech. Germany is a pioneer here, said Schulze, referring to the federal government’s commitment made in September to provide the largest development bank with an additional around 300 million euros, which will enable new loans of around 2.5 billion euros.

At the autumn meeting it will be decided that the World Bank should not only focus on fighting poverty in the future, but also on climate protection. “You can only fight poverty successfully if you also protect the natural basis of life,” said Schulze. She was confident that the reform would find a majority on Thursday. At the same time, Schulze called for concrete steps to adapt the development bank’s business model to the new tasks. “The World Bank must offer particularly cheap loans that benefit not only the individual country, but the entire world. This applies, for example, to the construction of solar parks or the protection of the rainforest,” she said.

Photo: via dts news agency