World Bank and IMF Navigate Trump Era's Climate Policies

World Bank and IMF leaders are ready to work with Donald Trump, emphasizing the importance of the private sector in climate financing. Despite his contentious climate stance, the institutions highlight the necessity of private investment in green tech to maintain global climate progress amid Trump's policies.

The heads of the World Bank and International Monetary Fund (IMF) expressed their willingness to collaborate with U.S. President-elect Donald Trump, emphasizing the crucial role of private sector funding to assist developing nations grappling with climate change.

IMF chief Kristalina Georgieva, speaking at the U.N. COP29 climate summit in Azerbaijan, highlighted their history of engagement with Trump, expressing optimism about the continued investment of U.S. private sectors in green technologies. She underscored that staying competitive relied on advancing in this sector.

Meanwhile, Ajay Banga, World Bank president, acknowledged Trump's significant electoral victory and reiterated the bank's commitment to enhancing efficiency. Despite Trump's tendencies towards unilateralism, both institutions aim to promote increased private investment in climate finance to mitigate climate-related challenges.

(With inputs from agencies.)