Philippines get aid for climate efforts

May 3, 2011 at 9:09 AM

MANILA, Philippines, May 3 (UPI) -- The World Bank announced it was backing a climate change agenda in the Philippines with a $250 million low-interest loan.

Andrew Steer, a special climate envoy to the World Bank, said the Philippines is "badly threatened" by climate change because of the growing severity of typhoons and related tropical surges in the region.

A green energy agenda adopted by the Philippines government includes plans for a low-carbon economy, renewable energy and ecotourism.

The bank said it was backing the initiatives with $240 million in low-interest funds allocated under the bank's Clean Technology Fund that promotes renewable energy initiatives.

The government there, said Steer, deserves praise for passing a series of climate change laws aimed at mobilizing a green economy.

"It's such a very important country," he said in a statement. "I want to ensure that we are doing our part."

Follow us on Facebook, Twitter, and Instagram for more news from
Related UPI Stories
share with facebook
share with twitter
Trending Stories