The Asian Development Bank has welcomed global warming experts and top government officials from around the world for a five-day climate investment forum.
The event, which ends March 19, aims to review the impact of the Climate Investment Funds and discuss how developing countries can have a larger participation in CIF efforts.
“The Climate Investment Funds were designed to bridge the gap between developed and developing countries for climate change funding and knowledge,” Ursula Schaefer-Preuss, ADB vice-president for knowledge management and sustainable development, said in a press release. “While the new, post-2012 financial architecture is being negotiated, the CIF can continue to provide critical interim funding.”
ADB is co-managing the fund with several multilateral agencies including the African Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank and World Bank.