This report presents the World Bank’s experience in climate and disaster-resilient development and contends that such development is essential to eliminating extreme poverty and achieving shared prosperity by 2030. The report recognizes, however, that such development requires additional start-up costs, which pay off in the long run if done correctly. Given this, the report argues for closer collaboration between climate resilience and disaster risk management communities, and the incorporation of climate and disaster resilience into broader development processes. Selected case studies are used throughout this report to illustrate promising approaches, lessons learned, and remaining challenges.