Billions more in overseas aid needed to avert climate disaster, say economists

Pressure piles on World Bank and IMF to steer countries to low-carbon transition at spring summit

Governments of wealthy countries must pledge hundreds of billions more in overseas aid payments channelled through the World Bank to avert the worst effects of the climate crisis, civil society experts and economists have said.

The International Development Association fund, the arm of the World Bank that disburses loans and grants to poor countries, is worth about $93bn (b75n) but that figure must be roughly tripled by 2030, according to economic experts.