Sudeshna Sarkar in IPS: Nepal will implement five projects with 110 million dollars sanctioned by the controversial Climate Investment Funds (CIFs), ignoring protestors who say this least developed country merits grants rather than climate loans.The money - 50 million dollars in grants and 60 million in credit - will be disbursed through the Asian Development Bank, International Finance Corporation (IFC) and the World Bank through four years as the projects start early next year, Nepal’s environment secretary Krishna Gyawali said.
Nepal is among eight developing countries that were offered CIFs, under either the Clean Technology Fund or the Strategic Climate Fund (SCF). Other potential CIF recipients were Bangladesh, Bolivia, Cambodia, Mozambique, Niger, Tajikistan and Zambia.
In May 2009, Nepal’s first Maoist government agreed to participate in the pilot programme for climate resilience (PPCR) developed under the SCF. Besides the environment ministry, the nodal agency for implementing the projects, other stakeholders include relevant ministries, the National Planning Commission and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).
In 2010, a new government led by the Communists identified four priority areas where the funds would be spent. Building climate resilience of watersheds in mountain eco-regions is top priority. It will focus on communities living in watershed areas significantly vulnerable to climate change. A second priority is responding to climate-related hazards through early warning systems as well as developing insurance.
The other two components are mainstreaming climate risk management in development, and building climate-resilient communities through private-sector participation....
Manang Lake in Nepal, shot by Liran Ben Yehuda, who has released the image into the public domain
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