Asian bank to fund climate change adaption

08/05/2008 04:55:49

The Asian Development Bank says it's setting up a new fund to help the Asia Pacific adapt to climate change.

The ADB will provide an initial $US40 million to the Climate Change Fund, which will be open for further contributions from individual countries, development organisations, and the private sector.

Bank spokesman Werner Liepach says the fund will help developing countries in the region address the causes and outcomes of global warming.

He says the bank is also ready to help countries tackle rising food prices.

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