LONDON (Reuters) - Poor countries will soon receive billions of dollars from a new World Bank fund to help them cut pollution, save energy and fight global warming, the international organization said.
Most carbon dioxide heating the planet now is a result of western industrialization, and developing countries want financial help to cut their own growing emissions.
The World Bank clean technology fund would receive some of the $2 billion in climate funds U.S. President George W. Bush announced last month, and part of the 800 million pounds ($1.56 billion) Britain pledged to "environmental transformation" last year, Henry Paulson, Alistair Darling and Fukushiro Nukaga said.
In a written response to questions from Reuters, the World Bank said, "It is expected that the formal announcement of the creation of the facility will be made soon."
The World Bank statement referred to "a strategic climate investment facility that would accelerate and scale up low carbon and climate-resilient investments in developing countries."
"While the idea of a clean tech fund is welcome it should not be used to distract from or undermine the main event which is global negotiations on reducing carbon emissions," an EU source told Reuters, who said agreeing on binding emissions cuts was the top priority.
