World Bank Says It Needs More Aid to Poor Countries To Deal With Climate Breakdown - Marketwatch

[hatrack]

:silly:

WASHINGTON (MarketWatch) -- The World Bank will aim to boost access to clean energy sources and take other steps to help the world's poorest nations deal with the challenges posed by climate change, the institution's key committee said Sunday. "In essence, our focus on this issue is always to (concentrate) on the needs of developing countries," said World Bank President Robert Zoellick after a meeting of the joint IMF-World Bank Development Committee. "Developed countries can take care of themselves."

In its communiqué, the committee said it urged the bank to work toward "access to modern, cost-effective clean energy, especially among the poorest and in sub-Saharan Africa." World leaders gathered at the G8 summit in Gleneagles, Scotland, two years ago asked the World Bank to complete a project known as the Clean Energy Investment Framework, which aims to identify the investment needed to increase access to energy, especially in sub-Saharan Africa; accelerate the transition to a low carbon economy; and adapt to climate change.

Some of the bank's member governments expressed reservations. Li Yong, China's vice minister of finance, told the committee that "the energy-related environment issue" can be solved "only when the energy demand for development of all the countries is met."
Li urged the committee to balance economic development and environmental protection. Saudi Arabia's finance minister, Ibrahim al-Assaf, told the committee that his committee had reservations about any use of the bank's International Development Assistance funds for climate-change efforts.

He also urged the bank not to take steps that would pre-empt U.N. negotiations aimed toward setting up an agreement to replace the Kyoto Protocol when it expires in 2010, Reuters reported.

EDIT

http://www.marketwatch.com/news/story/world-bank-poor-countries-get/story.aspx?guid=%7B8C62F91A-D826-4CB1-A7E0-3EC5FC2CEC48%7D

[tom_paine]

1. Yes yes yes! MORE money to excavate dams and divert resources!

More money! MOOOOOORE! $$$$$! MORE $$$$$$$! Monkey needs MORE!