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NGOs Criticise World Bank Over Climate Change Funds

Wednesday, December 10, 2008 - 11:04
Environmentalists protest to the United Nations climate conference in an attempt to keep the World Bank from controlling climate change finance.
Environmentalists have protested outside the main entrance to the United Nations climate conference in Poznan in an attempt to keep the World Bank from controlling climate change finance.

International Finance Campaigner Karen Orenstein with Friends of the Earth US says: "The World Bank is not a credible institution to play any role in addressing the climate crisis. Its Climate Investment Funds are irreparably flawed and should be shut down."

NGOs are critical of the World Bank in part because they say least developed countries deserve grants, not loans, to adapt to global warming caused by the greenhouse gas emissions of the industrialised economies.

To read the article titled, “NGOs oppose World Bank management of climate funds, click here.
Source: 
Environment News Service