Development pool

 
Last Updated: Saturday 04 July 2015

Norway and Sweden have jointly set up a us $3.6-million fund to focus on environment-related efforts, which would help alleviate poverty. Over the next three years, this amount will be utilised to execute technical assistance projects and carry out other activities in protection, conservation and sustainable use of natural resources and ecosystem services; reduction of air and water pollution; and disaster prevention and reduction of vulnerability to natural hazards. Entitled 'Poverty and Environment Fund', it will be administered by the Asian Development Bank (adb).

"Pilot activities under it will demonstrate innovative institutional arrangements, participatory approaches, or technical solutions with clear potential for successful replication, mainstreaming and upscaling elsewhere," revealed Rolf Zelius, deputy director general and chief compliance officer of adb's regional and sustainable development department. Research that can form the basis of policy dialogue, raising awareness and building capacity on poverty-environment linkages will also be supported.

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