Yes, agreed, it’s a big sum for the pockets taken from. It’s also a very nice sum to be able to steal, as much of it will be in some countries. And yet:
The GDP of Bangladesh is closing in on $500 billion a year. So, Bangladesh is $500 billion of $50 trillion, about 1% of the developing country GDP. We’ll not go far thinking that Bangladesh will get about 1% of those climate damages or development money — 1% of $100 billion is $1 billion a year. So that’s the amount we’re talking about, $1 billion a year.
Yes, that’s real money. And yet, well, it’s also about 0.2% of what Bangladesh already produces each year — 0.2% isn’t, in fact, a huge amount. We take off more than that when we circumcize someone.
Okay, so we can say that this is investment money, not just production or consumption. Well, okay, we can go further and say this is foreign money coming in to invest in Bangladesh. The Bangladesh Investment Development Authority says it received proposals for $3.2 billion in investment in just three months. So $1 billion a year is only 8% of what foreigners are already trying to invest. Or another report on foreign investment, direct FDI was $3.4 billion in the year.
In terms of economic development out there it’s just not an important number.