News

World Bank Climate Investment Funds Receive Pledges for US$ 6.1 Billion

Donor Nations Pledge Over $6.1 Billion to Climate Investment Funds

26 September 2008: Leading industrialized nations met at the

World Bank, and pledged more than US$6.1 billion to the recently created World

Bank Climate Investment Funds (CIF).

David McCormick, Undersecretary for

International Affairs, US Treasury, announced his country's contribution of

US$2 billion over three years. Andrew Steer, UK Director General of the

Department for International Development, announced a commitment of £800

million (approximately US$1.5 billion at current exchange rates). And Daikichi

Monma, Japan's Deputy Director General of the International Bureau of the

Ministry of Finance, announced his Government's pledge of US$1.2 billion to the

CIF.

The CIF were created this year to invest in projects and programs in

developing countries that contribute to the demonstration, deployment and

transfer of low-carbon technologies, and to test innovative approaches to

climate change, for example by increasing climate resilience in developing

countries. [World

Bank Climate Investment Funds] [World

Bank Press Release]