While there has always been a gap between infrastructure required and what the governments can afford, the infrastructure funding gap has widened significantly over the past few years. Governments are seeking innovative solutions to mitigate this gap and accelerate the delivery of the much-required infrastructure.

The complexity and urgency of the world’s challenges require meaningful collaboration among members of the development community and other stakeholders if the goals of ending extreme poverty and promoting shared prosperity are to be realized.

The Bank works with a growing array of development partners, both traditional and non-traditional, formal and informal, to help meet our shared goals. From the ongoing partnership with our sovereign donors, through engagement with foundations and civil society, to an increasing focus on leveraging private capital, the Bank recognizes how transformative partnership can be when new ideas, perspectives and experiences are combined with the necessary financial resources.

Development partners work with the Bank through trust funds:

While ports are naturally exposed to climate-related hazards such as storm surge or sea level rise, the level of exposure differs significantly from location to location, and the degree of vulnerability depends heavily on infrastructure design and specifications. A site- and asset-specific risk assessment allows port developers and operators to identify adaptation needs and prioritize investments in measures that enhance resilience. Such an assessment is the starting point to take advantage of the triple dividend that climate resilience can deliver.

During 2021, the FSB Board oversaw climate risk management and its potential to influence and inform corporate strategy and decision making. The Board is supported by the Safety, Security and Sustainability Committee (SSS) which met quarterly this year. This Board Committee has oversight of environmental and sustainability matters. The SSS Charter outlines its roles and responsibilities and includes climate change. The SSS receives briefings on the outcomes of the climate risk assessment and adaptation planning.

Most airport infrastructure was designed and constructed in the era when climate variation was not appreciated as it is today, and adaptive measures were not readily available. However, with more studies presenting financial and economic benefits from introducing preventive measures compared to reactive response post-impact, ACI recommends that airports consider:

UAE's Majid Al Futtaim listed the world’s first benchmark corporate green sukuk and first green sukuk issued by a corporate in the Middle-Eastern region with the following unique features:

Quantum Solar Park (Semenanjung) Sdn Bhd ("QSPS"), a special purpose vehicle, issued the largest solar project linked to green sukuk. The proceeds from the sukuk issuance will be used to build three large-scale solar photovoltaic plants in the states of Kedah, Melaka and Terengganu in Malaysia at a total cost of RM 1.25 billion. The projects are collectively expected to generate and supply about 282,000 MW of electricity annually to Malaysia’s electric utility company, Tenaga Nasional, under the respective power purchase agreements over a period of 21 years.

The issuance of Indonesia's US$ 1.25 billion five-year sukuk (in March 2018) is the world’s first sovereign green sukuk. That issuance is part of US$ 3 billion issuance that Indonesia managed to implement when it developed the sukuk within two months with the assistance of the World Bank. It was issued under the Indonesia's Green Bond and Green Sukuk Framework.

The national electricity grid in Indonesia has been dominated by fossil-fuelled generation. This project aims to support a scale-up of investment in geothermal energy development and is expected to contribute to: (i) displacing highly-polluting power supply alternatives and diversifying the nation’s generation portfolio; (ii) reducing reliance on fossil fuels and exposure to commodity price volatilities; and (iii) ultimately lowering the energy sector’s emissions compared to the business-as-usual scenario.