Developing Nations Oppose World Bank Bid To Control Clean Development Funding - Reuters

BANGKOK (Reuters) - Developing countries and environmental groups accused the World Bank on Friday of trying to seize control of the billions of dollars of aid that will be used to tackle climate change in the next four decades.

"The World Bank's foray into climate change has gone down like a lead balloon," Friends of the Earth campaigner Tom Picken said at the end of a major climate change conference in the Thai capital. "Many countries and civil society have expressed outrage at the World Bank's attempted hijacking of real efforts to fund climate change efforts," he said.

Before they agree to any sort of restrictions on emissions of the greenhouse gases fuelling global warming, poor countries want firm commitments of billions of dollars in aid from their rich counterparts.

The money will be used for everything from flood barriers against rising sea levels to "clean" but costly power stations, an example of the "technology transfer" developing countries say they need to curb emissions of gases such as carbon dioxide. As well as the obvious arguments about how much money will be needed -- some estimates run into the trillions of dollars by 2050 -- rich and poor countries are struggling even to agree on a bank manager.

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http://uk.reuters.com/article/environmentNews/idUKBKK28941120080404