WB hopes dev nations gets financial package at Copenhagen

WB hopes dev nations gets financial package at Copenhagen

"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 said 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.

"Infact the Bank is coming out with India Low Carbon study next month which will identify technological options and implementation issues," the economist said. On developed countries' insistence that developing nations take on emission standards, he maintained that it has to be dealt with under the UNFCCC.

Even as there seems to be dim signs of developed and developing countries coming on board on the emission issue at the UN summit, he said, "We hope an equitable and fair agreement would be reached in Copenhagen."