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World Bank plans clean technology fund for poor

Source:  Copyright 2008, Reuters
Date:  February 9, 2008
Original URL: Status ONLINE


Poor countries will soon receive billions of dollars from a new World Bank fund to help them cut pollution, save energy and fight global warming, the international organization said.

Developing countries such as India and China are already trying to reduce their carbon emissions, mainly to save on energy, but have baulked at doing more without technological help from Europe, Japan and the United States.

Most carbon dioxide heating the planet now is a result of western industrialization, and developing countries want financial help to cut their own growing emissions.

"The fund will support publicly and privately financed projects that deploy technologies that can cut emissions, increase efficiency and save energy in developing countries," the U.S., British and Japanese finance ministers said in the Financial Times on Friday.

The World Bank clean technology fund would receive some of the $2 ...

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