International Financial Institution

World Bank President Proposes “New Deal for a Global Food Policy” [viewed]

Robert_b_zoelliRobert B. Zoellick, World Bank President, called, on 2 April 2008, for a “New Deal for a Global Food Policy” to combat world hunger and malnutrition, in the face of skyrocketing food and oil prices, through a combination of emergency aid and long-term efforts to boost agricultural productivity in developing countries. Zoellick said the new deal is needed to combat the “forgotten” Millennium Development Goal of overcoming malnutrition, a problem that causes 3.5 million deaths a year in children under 5 and has long-lasting impacts on health and achievement. According to Zoellick, this new deal “should focus not only on hunger and nutrition, access to food and its supply, but also the interconnections with energy, yields, climate change, investment, the marginalization of women and others, and economic resiliency and growth.”

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IMF Considers Fiscal Implications of Climate Change [viewed]

The International Monetary Fund (IMF) Executive Board held a seminar on the fiscal implications of climate change, on 24 March 2008. The IMF Directors highlighted that the IMF has a distinctive and valuable contribution to make to the task of understanding and dealing with the fiscal challenges from climate change, but cautioned that the Fund's work on climate change should be budget-neutral and limited to its core competencies. With respect to the Fund's country work, the Directors noted that climate change concerns tend to reinforce established Fund advice on fiscal management, for instance in relation to energy subsidies. It was suggested that the Fund's work in this area should be mainly demand-driven, pay special attention to countries where the impact of climate change on external stability is evident and significant, and facilitate the exchange of views on country-experiences.

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IDB Holds Annual Meeting [viewed]

IdbThe Inter-American Development Bank (IDB) held its annual meeting from 4-8 April 2008, in Miami, US.

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UNDP Begins Implementing GEF Community-Based Adaptation Project [viewed]

Undp_logo2008: In accordance with the Global Environment Facility (GEF) Strategic Priority on Adaptation, which aims to build up the resilience of small communities vis-à-vis climate change impacts, the UN Development Programme (UNDP) has begun implementing the GEF-funded Community-Based Adaptation Project.

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GEF and UNDP Support Biomass Gasifier Plant in India [viewed]

The Global Environment Facility (GEF)/UNDP, India Canada Environment Facility (ICEF), and the Government of Karnataka, India, are supporting a biomass gasifier plant, which uses carbon neutral biomass to produce electricity for rural villages.

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Towards A Strategic Framework On Climate Change And Development For The World Bank Group [viewed]

WorldbankThe World Bank has released a concept and issues paper that develops a draft for a comprehensive Strategic Framework on Climate Change and Development (SFCCD) for the World Bank Group (WBG). The draft will be subject to public consultations and proposed for endorsement by the Board in September 2008.

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World Bank Managing Director addresses “Globalization and the Challenges of Inclusion and Climate Change” [viewed]

WbIn an address to the 9th Annual Global Development Network Conference in Brisbane, Australia, the World Bank's Managing Director, Operations, Graeme Wheeler, said “climate change is more than an immense development challenge,” and emphasized that “it is a major threat to all our economic and political systems and requires vision, courage, and leadership to address it.”

Wheeler stressed that climate change is the second major threat to long term prosperity.

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World Bank, GEF-Backed Energy Efficiency Program Expands in China [viewed]

Gefbacked_energy_efficiency_programThe Chinese Government and the World Bank have announced the preparation of a new Energy Efficiency Financing Project, using a proposed new US$ 200 million World Bank loan and US$ 13 million grant from the Global Environment Facility (GEF).

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World Bank Provides US$247 million in Cyclone and Floods Assistance to Bangladesh [viewed]

World20bank20logoaThe World Bank approved IDA financing totaling US$ 247 million to help Bangladesh recover from the dual shocks of the August flooding and November cyclone, which caused significant loss of life and enormous social, human, and economic costs.

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GEF CEO Proposes Shorter Project Cycle and Reduced Pipeline at Council Meeting [viewed]

8 December 2006: The Global Environment Facility's (GEF) CEO Monique Barbut opened the 5-8 December 2006 Council meeting in Washington DC, US, with a proposed “Five Point Sustainability Compact to Increase Efficiency and Impact.” Her proposal included: shifting from a project-driven to a programmatic approach by focusing strategies on a clear set of priority issues for the global environment; reducing the current project pipeline in half; appointing an “Ombudsman” in the GEF Secretariat to respond to country concerns or complaints; and redesigning the project approval cycle to reduce it from 66 to 22 months.

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