Spain has committed €19.5 million to the World Bank’s Livable Planet Fund (LPF) as part of a broader support package for sustainable development and debt relief. This funding aims to scale up cross-border projects in energy, water, and nature protection, reinforcing Spain’s leadership in tackling global challenges. The LPF, housed within the World Bank Group, supports transformational investments that deliver both national and global benefits and operates under the Bank’s new Framework for Financial Incentives (FFI), which rewards projects with global impact.
In addition to the LPF contribution, Spain is accelerating its commitment to the World Bank Group’s Multilateral Debt Relief Initiative (MDRI), pledging €66.67 million with an immediate payment of €40.52 million. The MDRI cancels debts owed by qualifying poor countries to international financial institutions, allowing these nations to redirect resources toward essential priorities such as health, education, and employment. Spain has also been active in innovative debt solutions through initiatives like the Sevilla Platform for Action, the Alliance for Debt Pause Clauses, Debt-for-Sustainable-Development swaps, and the Sevilla Forum to promote best practices in debt management.
Beyond LPF and MDRI, Spain is providing €20 million to the Spanish Fund for Latin America and the Caribbean (SFLAC) and €5 million to the Global Fund for Decarbonizing Transport (GFDT). World Bank Group President Ajay Banga emphasized that Spain’s support is more than financial—it represents a partnership that enables projects to scale up and deliver broad benefits across the international community.
Through these contributions, Spain aims to create jobs, build resilient economies, and strengthen global sustainability efforts, combining national leadership with the World Bank’s global reach to address pressing development and environmental challenges.
