On 2008, the World Bank with its development partners came to an agreement to mobilize new and additional financing for activities and investments that demonstrate financial and other incentives to scaled-up support for adaptation and mitigation and established the strategic Climate Investment Funds (CIF) along with its other two funds under it: Clean Technology Fund (CTF) and Strategic Climate Fund (SCF). The group recognizing the UNFCCC deliberations also presumes that the CIF will be an interim measure designed for the MDBs to assist in filling immediate financing gaps.
At its meeting in November 2008, the SCF Trust Fund Committee approved the Pilot Program for Climate Resilience (PPCR) with an objective to pilot and demonstrate ways to integrate climate risk and resilience into core development planning, whiles complementing other ongoing activities. It also said that the pilot programs implemented under the PPCR are to be country led, build on NAPA and other relevant country studies and strategies.
As one of its activities, last November, Bangladesh, Niger and Tajikistan were awarded a total of $270 million for first-of-a-kind country-wide plans for resilience against climate impacts. Six other low-income countries (Bolivia, Cambodia, Mozambique, Nepal, Continue reading »