WB offers $250-M loan for clean energy

Manila Bulletin

May 1, 2011, 12:15am

MANILA, Philippines – The World Bank urged the Philippine government to show more urgency in dealing with climate change, reiterating its offer of $250 million to help the country develop clean energy sources and better handle extreme weather conditions.

Andrew Steer, special envoy for climate change for Washington-based lender, said he has been pushing Manila to finalize a plan to cope with the potential impact of stronger typhoons, rising sea levels and an increase in global temperature, particularly on agriculture.

''The real challenge of the Philippines, and it's important that citizens are aware... that over the coming decades, unless the world takes tougher action, there are certain things that are going to happen that are not good,'' Steer, in Mania to meet officials and lawmakers, told a news conference.

''One and most immediately, extreme weather events, especially typhoons will become more serious, and it has huge impact on the Philippines.''

He called on Manila to finalize and implement a climate change action plan, including a strategy to mitigate flooding in coastal and low-lying communities.

The World Bank has also offered to provide an insurance facility for local governments that need funds to cope with disasters as well as in the recovery and rehabilitation efforts.

To combat climate change, the bank has been helping developing economies switch to clean-energy technologies to curb carbon emissions, and has supported government and private sector investments in the development of wind and solar energy.

The Philippines annual carbon emission rate is less than 2 tonnes per person, low compared with more than 20 tonnes per head in wealthy European and Middle Eastern states.