WB hopes dev nations gets financial package at Copenhagen

New Delhi, Sept 7 (PTI) World Bank Monday expressed
hope that the promised financial package and technology
transfer from the developed world to the developing nations to
combat global warming makes headway during the UN summit on
climate change in Copenhagen in December.

"This (monetary package and technology transfer) has
to come out of the negotiations in Copenhagen which will
decide on a post-Kyoto framework," Muthukumara S Mani, Senior
Environmental Economist, World Bank told PTI in an interview.

"The institution (WB) is neutral to negotiating
position of countries and will be guided by UN Framework
Convention of Climate Change (UNFCCC)," he said admitting that
the promised monetary help and technology transfer is yet to
happen.

As per Kyoto pact, Annexure I (industrial) countries
are committed to provide financial monetary and technological
help to the developing countries for mitigation and adaptation
to climate change.

Mani, who heads the Bank's Sustainable Development
Department said, the institution is ready to help India and
other developing countries cut down their carbon emissions
causing climate change.

"It can support through analytical work and is taking
lead on Low Carbon Growth studies in Mexico, Brazil, India,
South Africa and China," he added. (MORE) PTI