Bungling World Bank bureaucrats lost track of at least $24 billion bankrolling the battle against climate change, according to a bombshell report by a left-leaning charity group.
An investigation by Oxfam revealed “poor record-keeping practices” by the DC-based international lender that resulted in anywhere between $24 billion and $41 billion in misplaced funds.
The agency’s audit showed “a lack of traceable spending” over the past seven years — partly because of an oddball accounting practice in which the bank accounts for its climate financing at the time of a project’s approval rather than at the time of project completion
“All the figures are routinely made up,” the source said. “Nobody has a clue about who spends what.”
“This is an outrageous waste of US taxpayers money on a useless woke political cause. It is an insult to the American people,” Nile Gardiner, Heritage Foundation, “The World Bank and all international institutions need to be fully held to account. Vast amounts of wasteful spending on left-wing, progressive causes is fundamentally against the US national interest,” added Gardiner
The generosity of US taxpayers also allows World Bank staffers to rake in ‘fat cat’ tax-free salaries with senior directors able to take home $511,000 a year without (paying taxes)
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