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Fourteen Developing Countries Advance on Transformational Climate Action

Washington, D.C. – At meetings of the multilateral Climate Investment Funds (CIF) governing bodies here this week, three groups of low income and developing countries received support to engage in climate action which will transform their approach to development and poverty reduction. The three groups were selected under the target programs of the CIF Strategic Climate Fund (SCF).

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Will Climate Finance Mean a New Path for the World Bank?

By embarking on several climate change initiatives, including an assessment of progress in implementing the Strategic Framework on Development and Climate Change (SFDCC) and the revision of its Energy Strategy, the World Bank has positioned itself to play a role in the management of new climate funds. The Bank already hosts several climate related trust funds, including the Climate Investment Funds. It is the trustee of the Global Environment Facility (GEF), and its largest implementing agency. The question is whether the Bank should be entrusted with an even larger role in the future of climate finance.

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