Friday, August 24, 2007

Bank launches climate change fund with $20 million

(24 August 2007)

A major regional development bank has put up US$20 million to start a new fund to help Latin American and Caribbean countries tackle climate change.

Inter-American Development Bank (IDB) launched the Sustainable Energy and Climate Change Fund earlier this month to boost the use of environmentally friendly energy and lessen the impact of climate change.

Janine Ferretti, IDB environmental safeguards unit chief, said: "Climate change is a development issue. The fund will help countries in Latin America and the Caribbean address the problem of climate change and its impacts in important economic and social areas like agriculture, water, health, and biodiversity. It will also help improve access to affordable and reliable sources of energy." Read More