Developing Countries Lose $100 Bln Annually due to Climate Change

The developing countries across the world are susceptible to heavy costs in dealing with climate change and heading towards a green economy.

Experts estimate losses linked to climate change at about $100 billion, according to the decisions of the recent climate summit in Glasgow, Scotland.

The World Bank's Spring Meetings in Washington tomorrow, Thursday, will discuss the effects of climate change on economies in transition, transforming climate: financing climate action for a green and inclusive future.

Meetings mounted by the World Bank aimed at meeting the goals of achieving significant, low-carbon, and resilient investments that require the adoption of approaches that address the political economy of low-carbon transition and help local communities build long-term resilience to withstand the effects of climate change.