World Bank Told to Get Out of Climate Finance
On the last day of a series of protest actions in front of the UNESCAP building, JSAPMDD members on April 5, donned T-shirts and waved flaglets with the words "World Bank Out of Climate Finance" to emphasize their opposition to the World Bank being named as interim trustee for the Green Climate Fund established during the UNFCCC talks in Cancun last December 2010.
According to a statement by JSAPMDD, the World Bank has a history of financing and promoting policies with harmful consequences to people and communities such as the privatization of essential services like water.
"Furthermore, the World Bank is a lending institution which shares responsibility for deepening the debt problem in the South. The loans provided by the World Bank are hinged on conditionalities that further hinder the progress of developing countries towards the attainment of sustainable and just development. Climate finance should not come in the form of loans and should be free of conditionalities," said Lidy Nacpil, Coordinator of JSAPMDD.
The group also emphasized that climate finance is urgently needed in the South to enable the people of South countries to deal with the impacts of climate change.
Nacpil concluded that "climate finance is part of the reparations for climate debt owed by rich industrialized countries to the peoples and countries of the South."