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#world bank

Intense negotiations on the loss and damages fund concluded in Abu Dhabi on Saturday, 4 November, with participants agreeing to designate the World Bank as a temporary host for the fund over the next four years. The fifth meeting of the Transitional Committee, a core group of negotiators representing the interests of both developed and developing countries, avoided a deadlock in finalizing the terms of the proposal before the upcoming COP28 climate summit. Although a major milestone, concerns have arisen…