Durban, South Africa, December 6, 2011 — The World Bank today announced two new financial initiatives – the Carbon Initiative for Development (Ci-Dev) and the third tranche of the BioCarbon Fund (BioCF T3) – to help the least-developed countries access financing for low-carbon investments and enable them to tap into carbon markets after 2012.
“The World Bank is helping countries in the further development of carbon markets and other market mechanisms to support acceleration of mitigation efforts, and access to those markets for less developed countries,” said Rachel Kyte, World Bank Vice President for Sustainable Development. “The Bank wants to ensure that its suite of financial instruments, including private sources of capital via carbon markets, is accessible to all country clients so they can invest in their sustainable development. The initiatives launched today, focused on agriculture and access to energy, will strengthen links to these markets for the world’s poorest communities to these markets, as well as the flow of financing to action on the ground.”
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