IMF working on plans for green fund
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01/02/2010
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Business Standard (New Delhi)
The International Monetary Fund is working on proposals for amultibillion dollar "green fund" to help countries tap funds to deal with the effects of climate change, the head of the institution said on Saturday. IMF Managing Director Dominique Strauss-Kahn told the World Economic Forum in Davos, Switzerland, that developing countries would need financial help to tackle climate change while rich nations have taken on higher debt in reaction to the global financial crisis. Global talks on a new climate change pact have mostly looked to industrial powers to help finance efforts by developing countries to deal with climate change. REUTERS