Readout of PM meeting with Ajay Banga of the World Bank

A Downing Street spokesperson said:

“The Prime Minister met with the President of the World Bank Ajay Banga at the COP29 summit in Baku today.

“They agreed on the importance of mobilising private finance to strengthen action to tackle the climate challenge, and the Prime Minister welcomed the World Bank's ambition in this area.

“The Prime Minister said he was delighted to announce the launch of the new CIF Capital Market Mechanism which will list on the London Stock Exchange. He thanked the President for his support and engagement in this area, and welcomed the confidence this showed in the UK's economy.

“The Prime Minister said that this demonstrated London as a green finance capital, and bolstered Britain as an attractive place to invest in the future”.