Developing countries unlikely to see higher climate investment amid global growth slowdown

Global growth is projected to slow for the third year in a row, reaching 2.4% in 2024 from 2.6% in 2023, significantly below the 2010s average and the slowest half-decade of gross domestic product (GDP) growth in 30 years.

The newly released World Bank ‘Global Economic Prospects’ report notes that this slowdown comes as the world nears the midpoint of what was intended to be a transformative decade for development.