The International Monetary Fund Proposes Multi-billion Dollar “Green Fund”
by AlwaysGreen - February 1st, 2010. Tagged as: Climate Policy, Global Green.Last week, during the World Economic Forum in Davos, Switzerland, the International Monetary Fund (IMF) managing director Dominique Strauss-Kahn stated that a “green fund” must be created within the IMF.
The IMF director told the World Economic Forum that they needed to come up with innovative ways to help developing countries finance climate change issues.
Strauss-Kahn isn’t sure whether or not such a fund is possible, but preliminary estimates state that the “green fund” could potentially raise $100 billion per year to help countries tackle their climate initiatives.
The IMF director understands the argument behind asking the developed countries to pay for the fund, however, he feels that is not the entire answer and will be meeting with finance ministers and central banks so see what can be done.
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