News

World Bank Issues Statement on Adaptation Fund

17 August 2010: In response to news articles regarding the Climate Change Adaptation Fund, the World Bank has issued a statement clarifying its functioning.

In the statement, the World Bank underlines that countries can directly access the Adaptation Fund through a National Implementing Entity (NIE). Alternatively, the Fund can be accessed through a Multilateral Implementing Entity (MIE). The World Bank underscores that both NIEs and MIEs must be accredited by the Adaptation Fund Board. The statement notes that currently, the World Bank and the UN Development Programme (UNDP) are accredited MIEs, and that other MIE applications are under consideration. It also underlines that any application to the Adaptation Fund Board needs to be endorsed by the host government through the National Designated Authority (DNA).

The World Bank further clarifies that the Philippines DNA has not endorsed any proposals to the Adaptation Fund and informs that a proposal for the Adaptation Fund for a flood early warning system for Metro Manila was discussed with the Bank, but that it had not been officially submitted to the World Bank. It also states that a multi-stakeholder consultation in the Philippines decided to defer the proposal to the Adaptation Fund Board pending the development of the Philippines' National Climate Change Action Plan. [World Bank Press Release]