Global fund to help mid-sized Asian cities weather climate change
Mid-sized cities in emerging Asian nations are the focus of a new global initiative that seeks to counter the impacts of climate change. The Asian Development Bank (ADB), United Kingdom, and Rockefeller Foundation have launched Managing Climate Risks for the Urban Poor to help 25 secondary cities prepare for floods, rising seas, ferocious storms and other threats.
Financing would come from a new ADB fund that already has received commitments totaling $140 million, according to Reuters. Cities in Bangladesh, India, Indonesia, Pakistan, the Philippines, and Vietnam will be the first to participate, the ADB said in its announcement.
The program will help municipalities add climate resilience and disaster risk to urban planning efforts and offer technical assistance for infrastructure projects designed to safeguard impoversihed urban populations. The sponsors hope to implement 25 such projects affecting about two million people by 2021. (Full disclosure: the Rockefeller Foundation is a lead funder of Citiscope.)