WB praises Dhaka, Male for efforts on climate front

Posted by BankInfo on Sun, Dec 09 2012 06:09 am

The World Bank (WB) has commended Bangladesh and the Maldives for adopting schemes to boost the resilience of their peoples against global warming, while the Doha climate conference ended without reaching an accord to raise a $100 billion fund annually by 2020 -- a general pledge that was made three years ago.

Bangladesh and the Maldives, two of the most vulnerable nations to global warming, are becoming front runners for climate change impact adaptation, the WB said in a statement.

"Both the countries have long recognised that they must take on climate change adaptation to meet their development objectives," the statement issued on Friday quoted WB Vice President for Sustainable Development Mr Rachel Kyte.

Over the last decades, the government of Bangladesh has invested more than US$10 billion to make the country less vulnerable to natural disasters, the WB statement said.

The Maldives with the financial assistance from donors has also been implementing a four-year-long multi-million dollar Strategic Plan of Action since FY 2009-10.

"Bangladesh and the Maldives have established a multi-donor trust fund to channel international climate finance to domestic priorities. Early indications are that this approach is a success," Mr Kyte added.

The coastal Bangladesh and the Maldives, the state with numerous islands in the Indian Ocean, have taken schemes to boost climate resilience among the peoples by building infrastructure funded mainly by their respective national exchequers.

The countries are also utlising whatever amount they get from the international climate fund.

The statement was issued from the WB headquarters in Washington, summing up the observations of the relevant environment ministers of both the countries, made in Doha, during their deliberations at the annual United Nations Climate Summit which was scheduled to end yesterday (Saturday) following an extension of a day in a bid to reach a deal.

The two-week-long Doha event was organised to show case the proactive responses of extremely vulnerable nations toward climate resilience as the nations are beginning to experience the early impacts of global climate change.

News: The Daily Financial Express/Bangladesh/9th-Dec-12

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