Development and climate change : a strategic framework for the World Bank Group - interim progress report

The strategic framework on development and climate change was endorsed by the development committee on October 12, 2008, providing a roadmap for the World Bank Group's climate action for fiscal 2009-2011. This interim progress report summarizes the implementation progress since its endorsement and outlines directions for the remaining period. Developed through extensive global consultations, the Strategic Framework for Development and Climate Change (SFDCC) guides various entities and institutions of the World Bank Group (WBG), including the International Finance Corporation (IFC), the Multilateral Development Guarantee Agency (MIGA), and the World Bank (WB), toward achieving the twin objectives of: (i) effectively supporting sustainable development and poverty reduction in developing countries as climate risks and climate-related economic opportunities arise; and (ii) facilitating global action and interactions among all countries. Given evolving knowledge and global climate policy, the WBG's focus, especially at the initial stage, has been on learning and capacity building for scaling up demand-driven support to development investments, programs, and policies with adaptation and mitigation co-benefits.