Spain has announced a contribution of €19.5 million to the World Bank’s Livable Planet Fund (LPF), reinforcing its support for sustainable development and debt relief. The announcement, made on October 15, 2025, includes a broader package of commitments aimed at advancing global projects in energy, water, and environmental protection.
In addition to the LPF contribution, Spain is accelerating its commitment to the World Bank Group’s Multilateral Debt Relief Initiative (MDRI) with a total pledge of €66.67 million, of which €40.52 million will be paid immediately. The MDRI program is designed to cancel debts owed by qualifying countries to international financial institutions such as the World Bank, enabling those countries to redirect resources from debt service to essential domestic needs like health care, education, and employment.
Carlos Cuerpo, Spain’s Minister of Economy, Trade and Business, stated: “Spain is stepping up its multilateral engagement to tackle global challenges. Spain remains committed to bolder financing for development, as enshrined in the Sevilla Commitment. Our partnership with the World Bank ensures we can deliver concrete results—from debt relief to decarbonization—and reaffirms our commitment to a sustainable and inclusive future.”
Spain has also been involved in efforts to reduce the debt burden on vulnerable economies through several initiatives. These include the Alliance for Debt Pause Clauses, the promotion of Debt-for-Sustainable-Development swaps, and the creation of the Sevilla Forum to share best practices in borrowing and debt management.
Additional support from Spain includes €20 million for the Spanish Fund for Latin America and the Caribbean (SFLAC) and €5 million for the Global Fund for Decarbonizing Transport (GFDT).
Ajay Banga, President of the World Bank Group, commented: “With this new support, Spain is boosting efforts to create jobs, build more resilient economies, and free up resources where they are most needed. This is more than just funding; it's a true partnership. By combining Spain's leadership with the World Bank's global reach, we can scale up projects that benefit the entire international community.”
The Livable Planet Fund is managed by the World Bank Group and focuses on investments that offer both national and global benefits. In its first round of funding, the LPF allocated $76 million to projects worldwide. The LPF is part of the World Bank’s Framework for Financial Incentives (FFI), which was introduced to reward countries for expanding projects that deliver global benefits. The FFI was launched this year in response to calls for multilateral development banks to address international challenges.
More details about the Framework for Financial Incentives can be found at https://www.worldbank.org/en/about/unit/brief/catalyzing-local-solutions-to-global-challenges-the-framework-for-financial-incentives-ffi.