ADB hosts Climate Investment Forum

Senior Government officials and climate change experts from around the world will gather in the Philippines this week to discuss financial measures to help developing countries mitigate greenhouse gas emissions and adapt to climate change.

Hosted by the Asian Development Bank (ADB), the March 15-19 meetings are an opportunity to review the impact of Climate Investment Funds (CIF), and to strengthen developing country participation in CIF climate action schemes.

The CIF are implemented by the Multilateral Development Banks (MDBs) - the African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank, and World Bank Group - to provide interim funding for priority climate change responses while the new global financial architecture is negotiated.

ADB Vice-President Ursula Schaefer-Preuss said the 2010 CIF Partnership Forum is especially important given the outcome of last December’s COP 15 negotiations in Copenhagen, where negotiators were unable to reach consensus on post-2012 financing for climate change solutions under the auspices of the UN Framework Convention on Climate Change.