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No additionality, new conditionality : a critique of the world bank’s climate investment funds
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Tan, Celine (2008) No additionality, new conditionality : a critique of the world bank’s climate investment funds. Discussion Paper. Penang: Third World Network. Briefing Paper for UNFCCC Negotiations .
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Official URL: http://www.twn.my/title2/par/Paper.by.Celine.doc
Abstract
The World Bank[i] is planning to establish a portfolio of climate investment funds (CIFs) to provide financing for climate-related activities. The stated objective of the funds is ‘to bridge the financing and learning hap between now and a post-2012 global climate change agreement’ by providing ‘additional concessional financing’ to developing countries ‘to integrate both climate resilience and low carbon growth paths into their core development planning and budgeting’ (World Bank, 2008a: 1). These funds, which will be established separately from the Bank’s core operations, will deliver donor resources for ring-fenced projects and programmes, through multilateral development banks (MDBs), of which the World Bank is one.
The climate investment funds are the latest efforts on the part of the Bank to capitalise on current global concerns with climate change and form a key pillar of its larger proposed strategic framework on climate change (World Bank, 2008b). In contrast to previous financing initiatives, these proposed funds are expected to attract significant donor support. The combined target size of the CIFs is expected to exceed the combined total of funds held in existing trust funds administered by the Bank. In 2006, the total funds held in trust by the Bank were US$10.3 billion (World Bank, 2006: 2) while the Bank and key donors are expecting to raise a total of US$10 billion over three years for the CIFs (Okada and Sato)[ii].
| Item Type: | Working or Discussion Paper (Discussion Paper) | ||||
|---|---|---|---|---|---|
| Divisions: | Faculty of Social Sciences > School of Law | ||||
| Series Name: | Briefing Paper for UNFCCC Negotiations | ||||
| Publisher: | Third World Network | ||||
| Place of Publication: | Penang | ||||
| Official Date: | 2008 | ||||
| Dates: |
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| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Access rights to Published version: | Open Access | ||||
| Description: | Briefing Paper for UNFCCC Negotiations |
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