More than two-thirds of people in low-income countries that were hit by a natural disaster or extreme weather event between 2021 and 2024 suffered loss of income (69%) or assets (72%) as a result. Yet, climate finance currently represents less than 5% of lending among more than half of financial service providers. The impacts of climate change affect not only individual households, but also businesses, who often lack the capital to cope with changing costs and disruptions to supply chains. Closing this gap means equipping microfinance institutions with climate-informed products and connecting local entrepreneurs, cooperatives, savings groups, and small businesses with the finance they need to adapt and grow. The Global Microfinance Initiative aims to harness this opportunity, unlocking new jobs and enabling resilient economic growth in the regions most affected by climate shocks.
This webinar, hosted on March 18, 2026, marked the Global Microfinance Initiative's first year of implementation. Speakers from the World Bank Group, the Global Environment Facility, and the Consultative Group to Assist the Poor (CGAP) presented the evidence for action: climate shocks are already affecting household incomes and local enterprises, while economic benefits from green transitions remain unrealized. And though the financial infrastructure to support resilience and expand green jobs exists, most financial providers have yet to adjust their offerings to meet this challenge and opportunity.
The World Bank team leading implementation in Tanzania showed how the Global Microfinance Initiative can disrupt this status quo. Through strategic analysis on market opportunities for climate finance, identifying gaps in access to appropriate financial products, supporting business skills development for local women’s groups, and co-designing climate-smart lending products alongside financial service providers, the team is bringing financing, expertise, and capacity to finance providers, local actors, and decision-makers.
Watch the webinar recording now, available in English (above), French, Portuguese, and Spanish.
Learn more about the Global Microfinance Initiative.
Learn more about the Platform for Locally Led Climate Action
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