Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), stated that the fund considers climate change a fundamental threat to economic and financial stability and outlined plans aimed at helping focus investments on green technologies that will enhance global growth.
Georgieva informed the Climate Adaptation Summit that global economic output could increase by 0.7% over the next fifteen years, and millions of jobs could be created if investments in green infrastructure are increased. She also stated that the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) of the World Bank would implement half of the climate-related financing to support climate adaptation projects.
