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Failure to meet deadline for signing pact: Pakistan may lose $3.8 million World Bank fund

2014-05-07 12:04:00| Climate Ark Climate Change & Global Warming Newsfeed

Recorder: Pakistan has missed the deadline to sign a formal agreement with World Bank (WB) for 3.8 million dollars Readiness Fund of Forest Carbon Partnership Facility (FCPF) due to bureaucratic hurdles. The FCPF is the World Bank-administered facility that has been set up to compensate developing countries for reductions in carbon dioxide emissions achieved by preserving their forests. Pakistan secured the funding in December last year to combat climate change and tropical deforestation after a tough competition...

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