Developing countries face an unprecedented combination of challenges that include worsening environmental degradation resulting in climate change, the impacts of the COVID-19 pandemic, and the need for inclusive growth. As global economies focus on green and resilient recovery, there is growing demand on how to promote private sector development while proactively addressing climate change through improvements in policies that relate to firm processes, practices, technologies, skills, and products.
The World Bank is implementing a global grant through funding from C-JET to help promote circular economy and private sector development. The grant will address climate change through activities that include global-level research, the recommendation of actionable policies, development of case-studies, practical engagement with specific country operations, and development of diagnostic tools to support future operational work at the intersection of environmental sustainability and private sector development. These grant activities and more aim to spur the adoption of green technologies, and support the investment required for green transformation.