The World Bank’s Partnership for Market Implementation (PMI) Facility has released its 2025 Annual Report, highlighting progress across 35 country programs as governments strengthen carbon pricing policies and build the market infrastructure needed to engage in international carbon markets.
In FY25, the Partnership for Market Implementation Facility (PMIF) delivered a year of strong progress as global momentum behind carbon pricing and international carbon markets continued to accelerate.
PMI expanded support to 35 countries and advanced decisively from readiness to implementation. Eighteen multi-year country programs are now approved —14 operational, including a new grant for Brazil. Nineteen Just-in-Time grants have been allocated to date, with 6 completed in FY25 and 7 new grants for countries such as Azerbaijan, Cambodia, Egypt, Moldova, Nepal, South Africa, and Thailand. These rapid interventions supported priorities ranging from analyzing exposure to border carbon adjustment in Egypt to supporting Article 6 regulation in Bhutan. PMI also deepened links to World Bank lending, including work in Belize tied to a US$32 million blue economy investment operation and policy support to Moldova’s Climate Action Law.
PMI’s knowledge and innovation agenda scaled significantly and is now fully aligned with operational delivery. Over 450 practitioners trained and new practical knowledge tools and guidance launched through the PMI Knowledge Center. Innovation efforts advanced digital MRV systems, new carbon methodologies, and the onboarding of 10 registries—representing over 85% of global credit issuance—to the Climate Action Data Trust.
The Compact with Africa–Green Business Fund (CwA-GBF) delivered strong results as well, moving blended-finance solutions toward implementation and supporting over 35 financial institutions. New financing models for solar SMEs, climate-smart agriculture, and green housing are now being integrated into World Bank investments across Africa.
Overall, FY25 demonstrated that PMIF’s programs are now firmly off the ground and building momentum. The year established the foundations needed for delivery, positioning PMIF to help countries turn climate finance opportunities into real economic and development gains through stronger policies, credible market systems, and practical financing tools.
