Makhtar Diop, managing director of the International Finance Corporation (IFC), says unlocking private investment is the priority for improving access to climate finance in developing countries. The World Bank Group’s private-sector arm is using its own resources to reduce the risk of climate investments for private investors. Diop said the World Bank Group had reached $98 billion in climate finance this year, half of it for adaptation, but that this is “not enough” to meet current challenges. The IFC is working with partners, including ALTÉRRA, to attract more private capital into climate action.