The World Bank will raise at least $5.5 billion with the United States, Britain and Japan this year for climate change funds that will help poor nations use clean technology and tackle global warming, a bank official said on Sunday.
The bank will agree to set up the funds at its July board meeting and will raise the money by autumn, the bank’s vice president for sustainable development, Katherine Sierra, said in an interview in the Japanese city of Kobe, where she is attending a meeting of the Group of 8 environment ministers.
“We are hoping that initially the clean technology fund may begin with $5 billion and the other one may be $500 million for climate resilience,” Ms. Sierra said, adding a further announcement may be made at the G-8 summit in July.
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