World Bank ups cli­mate fund­ing to $200 bil­lion

The Myanmar Times - - International Business -

THE World Bank Group says it is dou­bling fund­ing for poor coun­tries pre­par­ing for cli­mate change to $200 bil­lion over five years.

The Wash­ing­ton-based or­ga­ni­za­tion said Mon­day that about half would come from the World Bank it­self, while the rest would be sourced from other in­sti­tu­tions within the group and pri­vate cap­i­tal.

The bank said some $50 bil­lion will be ear­marked for cli­mate adap­ta­tion, a recog­ni­tion that some ad­verse ef­fects of global warm­ing can’t be avoided any­more but re­quire a change in prac­tice.

This in­cludes build­ing homes that can with­stand more ex­treme weather and find­ing new sources of fresh­wa­ter as ris­ing seas con­tam­i­nate ex­ist­ing sup­plies.

The an­nounce­ment comes as lead­ers are meet­ing in Poland for UN talks on tack­ling global warm­ing. – AP

Photo: AP

A demon­stra­tor holds a plac­ard which reads ‘What I stand for is what I stand on’ dur­ing a ‘Claim the Cli­mate’ march in Brus­sels, on Sun­day.

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