International Financial Institution

World Bank Proceeds with Global Consultations on Its Strategic Framework on Climate Change and Development [viewed]

World20bankMay 2008: The website for global consultations on a Strategic Framework on Climate Change and Development for the World Bank Group (WBG) has been updated with translations in Arabic, Chinese, French, Portuguese, Russian and Spanish.

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African Development Bank Annual Meeting Considers Negative Impacts of Climate Change on Agriculture and Rising Fuel and Food Prices [viewed]

African_development_bank14 May 2008: The 43rd Annual Meeting of the Board of Governors of the African Development Bank (AfDB) and the 34th Board of Governors meeting of the African Development Fund (ADF) took place on 14-15 May 2008, in Maputo, Mozambique. The Annual Meetings considered the theme “Fostering Shared Growth: Urbanization, Inequality and Poverty.”

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GEF Workshop Assesses Best Practices in Evaluating Climate Change and Development Projects [viewed]

Alexandrina13 May 2008: The Global Environment Facility's (GEF) Evaluation Office organized an international workshop on Evaluating Climate Change and Development, from 10-13 May 2008, in Alexandria, Egypt. Participants shared experiences in evaluating projects and programmes aimed at the nexus between climate change and development, paying special attention to convergence in findings throughout the GEF's Implementation Agencies.

Photo: Bibliotheca Alexandrina, site of the 2008 International Workshop on Evaluating Cliimate Change and Development.

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Asian Development Bank Launches New Climate Fund [viewed]

5 May 2008: The Asian Development Bank (ADB) announced a contribution of US$40 million for a new Climate Change Fund it is establishing to mitigate and adapt to the impacts of climate change in the Asia-Pacific region.

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European Banks Establish a Post-2012 Carbon Credit Fund [viewed]

28 April 2008: Five European public financing institutions have established a EUR 125 million Post-2012 Carbon Credit Fund.

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GEF Council Approves Climate Projects, Requests Further Guidance on Tech Transfer [viewed]

25 April 2008: The Council of the Global Environment Facility (GEF), which convened in Washington DC, US, from 22-25 April 2008, reviewed a progress report on the implementation of the Resources Allocation Framework (RAF), discussed the Strategic Programme to Scale-up the Level of Investment in the Transfer of Environmentally-friendly Technologies, as requested by the UNFCCC, and approved ten climate change projects.

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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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