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IMF proposes climate change kitty
Developing countries would require large-scale, long-term investments for climate change and its effects, like the flooded Magarini village in Kenya’s Coast province. Photo/FILE
Posted Monday, March 15 2010 at 00:00
Under the Accord, developing countries were to be given $30 billion until 2012 and then $100 billion a year until 2020.
“It is particularly important to release money for immediate adaptation and mitigation efforts in developing countries, especially for the most vulnerable. Developing countries need to move as quickly as possible toward a future of low-emissions growth and prosperity,” Mr Ban said.
The team is projected to issue its final recommendations before the next conference of parties to the United Nations Framework Convention on Climate Change in Cancun, Mexico later in the year.
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