IMF Members Say 'No' to 'Green Fund'

Member countries of the International Monetary Fund thumbed down March 25 a proposal to gather USD100 billion a year starting 2020 to help poor nations adapt to the effects of climate change.

Reuters reports that the fund “made no public acknowledgment” of the unanimous rejection, but officials said the proposal has long been unpopular among members as they believed the IMF “had no expertise or mandate to address climate change.”

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    Tarra Quismundo

    Tarra Quismundo joined Devex Manila as a staff writer in October 2009 after more than six years of working as a reporter for the Philippine Daily Inquirer, a nationwide daily, for which she covered major breaking news in politics, military, police and international affairs. Tarra's Devex News coverage focuses on key Asian donors and top aid officials around the globe.