International Financial Institution

ECOSOC Highlights Interlinkages between Food and Energy Crises [viewed]

Current Global Food Crisis Will Require Increasing Amounts of Humanitarian Assistance for Some Time to Come, Economic and Social Council Told 17 July 2008: The UN Economic and Social Council (ECOSOC) concluded

its three-day Humanitarian Affairs Segment by convening a panel discussion on “Humanitarian

challenges related to global food aid, including enhancing international

efforts and cooperation in this field,” chaired by

Council Vice-President Park In-kook (Republic of Korea) and moderated by John Holmes, Under-Secretary-General for Humanitarian Affairs.

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World Bank signs first CDM Solid Waste Composting Project in Cairo [viewed]

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1 July 2008:The World Bank signed its first greenhouse gas emission

reductions purchase agreement in Egypt, for a municipal solid waste-composting

project. The facility will feature waste sorting for recovery of recyclables

and aerobic composting of organic waste, reducing the amount of methane and

other greenhouse gases emitted from the landfill site.

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ADB Establishes a US$100 Million post-2012 Carbon Fund [viewed]

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8 July 2008: The Asian Development Bank

(ADB) has established a new fund to finance clean energy projects, in the

Asia-Pacific region, that generate carbon credits beyond 2012. “The new fund will provide an incentive

for the ADB's developing member countries to scale up energy efficiency and the

use of renewable energy sources that will contribute to both climate change

mitigation and enhanced energy security,” ADB Vice President Ursula

Schäfer-Preuss said.

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European Investment Bank Presents New Climate Change Study [viewed]

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1 July 2008: Philippe de

Fontaine Vive, European Investment Bank (EIB) Vice-President, has presented the results of a study on climate change in the

Mediterranean and its consequences on the development of Maghreb and Machreq

countries.

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World Bank Launches Site on Climate Change in the Middle East and North Africa Region [viewed]

July 2008:

The World Bank has launched a web site on climate change in the Middle East and

North Africa region (MENA).

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World Bank Board Approves Climate Investment Funds [viewed]

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1 July 2008: The

World Bank's Board of Executive Directors, meeting on 1 July 2008, approved two

Climate Investment Funds (CIFs) following an extensive public consultation

process that culminated with an agreement on the CIFs by 40 developing and

industrialized countries in Potsdam, Germany, on 21-22 May 2008. The establishment of the CIFs was also endorsed by

the G8 Finance Ministers who met in

Osaka, Japan, in June 2008.

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World Bank President Zoellick Presents New Climate Investment Funds at G8 Finance Ministers Meeting [viewed]

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June 2008: Speaking on the sidelines of the meeting of finance ministers for

the Group of Eight (G8), held in Osaka, Japan, World

Bank President Robert B.

Zoellick presented two new climate investment funds built to support the

UNFCCC's efforts to address the effects of, and mitigate, climate change.

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Maldives Prepares for Climate Change [viewed]

5 June 2008: As

part of the UN World Tourism Organization's (UNWTO) strategy to implement the

recommendations of the Davos Declaration, a project aiming to integrate the

Maldives' tourism into its climate change adaptation activities is underway.

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WTO's Lamy Says More International Trade Prevents Climate Change and Water Scarcity [viewed]

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3 June 2008: The World Trade

Organization's (WTO) Director-General, Pascal Lamy, addressed the High-Level

Conference on World Food Security, which met in Rome, Italy, from 3-5 June

2006, where he highlighted climate change's impacts on agriculture, including

the potentially greater scarcity of water, and called attention to the

water-saving potential of international trade, by preventing the unnecessary

growth of agriculture in countries without access to sufficient water resources.

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World Bank Prices Bond Linked to CDM Project [viewed]

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June 2008: The World Bank has priced a US$25 million bond linked to Certified

Emissions Reductions (CERs) to be generated by a Clean Development Mechanism

(CDM) project in China.

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