World Bank Under Fire: $24 Billion Climate Fund Mystery Sparks Trump's Scrutiny

Washington, D.C., Tuesday, 19 November 2024.
In a startling revelation, the World Bank faces intense pressure after losing track of $24 billion in climate funds, just as President-elect Trump plans sweeping austerity measures. With senior executives earning more than the U.S. President and lavish travel expenses coming to light, the institution’s financial practices face unprecedented examination under Trump’s proposed Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy. The timing couldn’t be worse for the international lender, as the incoming administration signals major reforms in foreign aid spending. World Bank officials are reportedly scrambling to address these concerns, while defending their financial reporting practices amid growing calls for transparency and accountability.