World Bank: S. Caucasus faces $100M annual loss due to climate challenge

Challenges such as drought, water scarcity, and extreme temperatures lead to an annual financial loss exceeding $100 million across the three South Caucasus countries, Rolande Pryce, World Bank Regional Director, said on Thursday.

He made the remarks at an event held as part of the COP29 climate conference in Baku, News.Az reports.

Pryce also underscored the World Bank’s commitment to supporting the region's transition to green energy through in-depth analyses and targeted programs.

She emphasized the vital role of private sector investment in driving climate adaptation and the green transition in the region.

News.Az