Demand for World Bank Group financing hits almost $64bn

World Bank Group commitments to developing countries hit nearly $64 billion in fiscal year 2018, which ended June 30, with record increases in human development, climate finance, and International Development Association support.

Of the total, 32.1% ($20.5 billion) of World Bank Group financing was climate change-related - exceeding a target set in 2015 of 28% of lending volume to be climate-related by 2020. Support to countries from the International Bank for Reconstruction and Development, which provides financing, risk management products, and other financial services to members, rose to $23 billion in FY18, up from $22.6 billion in the previous fiscal year.