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Saturday, October 11, 2008

India Rejects Climate Investment Funds

India has apparently refused to participate in the World Bank's Climate Investment Funds, which have been developed to assist in funding climate adaptation in the developing world. India seems to take exception to the entire concept of adaptation funds being made available as traditional development assistance (particularly loans) rather than through the direct transfer of funds. Instead, India has argued for an adaptation fund to be administered directly by the UNFCCC. The question now is whether India will have to go it alone in making a stand on principle, or whether other nations will also ultimately reject this funding mechanism.

1 comment:

(a)synchronous said...

This TOI article is the only primary source in the world (as far as I've been able to track down) that has claimed India's rejection of the WB CIF. I think it's safe to say that since no other media outlet or Ministry has supported this statement, TOI simply fabricated it.