Spain is contributing €19.5 million to the World Bank‘s Livable Planet Fund as part of a broader support package for sustainable development and debt relief announced today, according to a press release. The funding will help scale up cross-border projects in energy, water, and nature protection, while reinforcing Spain’s leadership in addressing global challenges.
The package includes an accelerated commitment of €66.67 million to the World Bank Group’s Multilateral Debt Relief Initiative (MDRI), with an immediate payment of €40.52 million to help poor countries free up resources for health, education, and jobs. The MDRI cancels debt that qualifying countries owe to international financial institutions like the World Bank, allowing them to redirect money from servicing old debts toward essential domestic priorities. Spain has been leading innovative solutions to ease the debt burden of vulnerable economies, including through the Alliance for Debt Pause Clauses, Debt-for-Sustainable-Development swaps, and the Sevilla Forum for advancing best practices in borrowing and debt management.
Spain’s Minister of Economy, Trade and Business, Carlos Cuerpo, said the country is stepping up its multilateral engagement to tackle global challenges, ensuring the delivery of concrete results from debt relief to decarbonization. The partnership with the World Bank aligns with Spain’s commitment to bolder financing for development, as enshrined in the Sevilla Commitment, and supports a sustainable and inclusive future.
In addition to the Livable Planet Fund and MDRI support, Spain will provide €20 million to the Spanish Fund for Latin America and the Caribbean and €5 million to the Global Fund for Decarbonizing Transport. World Bank Group President Ajay Banga said Spain’s support boosts efforts to create jobs, build more resilient economies, and free up resources where they are most needed, describing it as a true partnership that combines Spain’s leadership with the Bank’s global reach.
The Livable Planet Fund, housed at the World Bank Group, supports transformational investments that deliver both national development and global benefits. In its first round, the fund allocated $76 million to projects worldwide, focusing on initiatives that address climate change, protect ecosystems, and promote sustainable growth across multiple countries.
