Tuesday, March 9, 2010

Kenya: Financing Climate-Change Fight

The head of the International Monetary Fund on Monday proposed a plan for the world’s governments to pool together to raise money needed to adapt to climate change. Managing Director Dominique Strauss-Kahn said in Nairobi that the fund was concerned about the huge amount of money needed and the effect that would have on the global economy. Mr. Strauss-Kahn proposed that countries adopt a quota system similar to the one the fund used to raise its own money. He added that the proposal might help efforts to reach a binding agreement on climate change later this year.

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