World Bank “loses” $40 billion in climate change money. But it's not as bad as the Pentagon, which can’t account for $800 billion.

Photo above - Headquarters of the World Bank, in Washington DC. They just admitted that they misplaced $40 billion intended to save the planet from global warming.

The World Bank climate fund shortfall was discovered because Oxfam saw they’d been shorted, and started asking questions. Pretty straightforward approach to uncovering waste, fraud and abuse. Let’s hope this has a happier outcome than the Pentagon, which has failed every audit for at least 7 years, and now has an $800 billion 8-ball to resolve. I’m guessing this will probably happen . . . never. The Pentagon can’t even figure out whether those radar tic-tacs are drones, friendlies, enemies, birds, or visitors from outer space. However, it IS possible that the Pentagon spent the missing $800 billion on planes, missiles, submarines, tanks, laser beams, nuclear bombs, and bribes to foreign potentates they'd rather not talk about.

Back to the World Bank’s missing $40 billion. What is the World Bank and what does it do? Formed in in 1944 – before World War 2 was even over – and it has nothing to do with the UN, so we can’t immediate assume the missing money was more United Nations chicanery. There are 25 member nations on the WB board, so accountability is thin, sort of like butter stretched over too much bread.

The president of the World Bank is some guy named Ajay Banga. Yeah, I never heard of him either. He’s from India. And he was also President and CEO of the MasterCard credit card company. (Okay, I’m getting alarmed now. Who would consider this a job qualification for the World Bank and climate change?)

The World Bank’s mission is to reduce global poverty. Evidently their focus was diverted at some point, and they pivoted to handing out money to environmental groups instead. Anyway, since 1944 they have done next to nothing to reduce global poverty. The only real success story since that time was the People’s Republic of China. And most of China's progress came from patent violations, industrial espionage, and hacking, not World Bank loans.

Okay, long story short: The World Bank is bad at it’s job - fixing poverty. And apparently fell into an accounting black hole when funneling money to climate groups.

How much funding does the USA give to the World Bank annually? It’s incredibly hard to find out. The World Bank’s own web pages only say that last year’s contributions from all 25 member nations were $93 billion. They don’t say who and how much. Neither does anything I could find on any US website. This begins to smell an awful lot like the USAID deal, doesn’t it? Massive sums, zero transparency.

I’m hoping – praying to shiva – that we don’t find the missing World Bank climate funds went to buy Tesla’s in developing nations. Or build new power plants in China. Or launch climate satellites. Or pay off Amazon loggers and gold miners to temporarily pause their rainforest clear-cutting. (Biden separately gave them $4 billion for that, at the end of last year).

If that’s where the World Bank climate money went, there would be an audit trail though. Teslas, power plants, and satellites are easy enough to spot on accounts receivable printouts. Instead, I’m afraid the $40 billion ended up in the Swiss bank accounts of 3rd world potentates and bureaucrats. Like so much other development aid, which also is mostly unaccounted for.

If anyone has a different theory please share it, with a link if you have one.

I’m just sayin’ . . .

$41 Billion in Climate Funds Missing? World Bank Under Fire