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Multilateral Development Banks Discuss Methodology for Tracking Adaptation Finance

AfDB15 June 2012: Representatives of the Multilateral Development Banks (MDBs) met on the margins of the UN Climate Change meeting in Bonn, Germany, to discuss a joint methodology for climate adaptation financing tracking, including the concept of adaptation to be adopted, a set of high level principles and a roadmap to finalize the methodology.

Hosted by the African Development Bank (AfDB), the workshop addressed how MDBs and development partners can engage in substantive analysis of climate finance. Among other issues, participants considered the findings of a report commissioned by AfDB reviewing various adaptation classification systems used by MDBs and other adaptation bodies and funds.

The methodology will be further developed and tested by MDBs with a view to be released during the 18th session of the Conference of the Parties to the UN Framework Convention on Climate Change (UNFCCC) (COP 18) to be held from 26 November - 7 December 2012, in Doha, Qatar. [AfDB Press Release]