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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/oxfam-reports-missing-climate-funds-from-the-world-bank/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Oxfam Reports Missing Climate Funds from the World Bank</a> 
According to a new report by the international aid organization Oxfam, at least $24 billion earmarked for climate initiatives has not been accounted for by the World Bank. The institution, which consistently blames <a href="https://en.coin-turk.com/orbitt-mm-boosts-token-launches-on-pump-fun/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrencies</a> and implies they are a significant problem, now appears unaware of the whereabouts of this money. If this cash had been transferred in <a href="https://en.coin-turk.com/deceptive-decentralized-exchange-strikes-on-ethereum-layer-2-network-a-3m-fraud-on-arbitrums-swaprum/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a>, the transparency of <a href="https://en.coin-turk.com/incentive-boost-from-starknet-team-for-developers/" data-wpel-link="internal" rel="noopener noreferrer nofollow">blockchain</a> would have allowed everyone to track where the money went and how it was spent. Those who have linked cryptocurrencies to terrorism and dismissed blockchain as unnecessary are now searching for the missing $24 billion.
<h2 id="uncertainty-surrounding-fund-locations">Uncertainty Surrounding Fund Locations</h2>
Oxfam has reported that the World Bank has audited its climate finance portfolio from 2017-2023, revealing a lack of public records regarding where these funds have gone or how they have been used. This situation makes it impossible to evaluate the effectiveness of the expenditures.
<h2 id="criticisms-and-missing-records">Criticisms and Missing Records</h2>
Oxfam also pointed out that it remains unclear whether the funds purportedly allocated to climate-related initiatives, clean energy investments, and protection against climate change impacts for low- and middle-income countries are being utilized as intended.
A source within the bank anonymously stated that the amount of missing money reported by Oxfam could actually be ten times what was declared, saying, “All figures are routinely fabricated… Nobody knows who is spending what.”
Kate Donald, the head of Oxfam International’s Washington D.C. office, stated:
<blockquote>
 “Although the bank boasts billions for climate finance, these figures are based on planned expenditures. They do not show what is actually spent after projects begin. This is like asking a doctor to assess your diet based solely on your grocery list, without ever checking what is actually left in your fridge.”
</blockquote>
In response to the report, a World Bank spokesperson said, “We are discussing these findings, but we are also engaged with Oxfam and other civil society groups to be more transparent in our climate work.”
According to Oxfam’s report, the World Bank holds 52% of total climate finance from all multilateral development banks. Without transparency in the missing fund records, the effectiveness of steps taken to combat climate change cannot be assessed.
The post <a href="https://en.coin-turk.com/oxfam-reports-missing-climate-funds-from-the-world-bank/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Oxfam Reports Missing Climate Funds from the World Bank</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Oxfam Reports Missing Climate Funds from the World Bank

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