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cllimate resilient development

Nepal’s post-earthquake recovery is going well

Annette Dixon's picture
Earthquake survivors set up bank accounts to receive the first installment of 50,000 Rupees each.

The rebuilding has long begun in Nuwakot District in the foothills of the Himalayas in Nepal.

Twenty months after the earthquake that took lives and devastated livelihoods, people are receiving their first payments under a housing reconstruction project and are rebuilding their homes to higher standards. This will hopefully make them safer when the next earthquake hits.
 
The villagers I met were pleased to be getting financial and technical support to rebuild their lives but their frustration over the slow start still lingered. This is understandable given the suffering the earthquake caused and the slowdown in recovery efforts that came soon afterwards because of the disruption at Nepal’s border. But signs of enthusiasm dominated as stonemasons, engineer trainees and local officials mobilize in the rebuilding effort.

Race Against Climate Change is a Marathon

Patricia Bliss-Guest's picture

 AfDB

Looking back at 2013, the Climate Investment Funds’ (CIF) fifth year, I am encouraged by the amount of ground we have covered. Not only are we beginning to see more tangible results of CIF investments, we are also venturing into new territory both geographic and financial. New contributions of $400 million received in 2013 make us the largest source of climate finance with pledges of $8 billion, demonstrating the confidence donors have in our mission and multilateral development bank (MDB) partnership to deliver on the promise of transformative, climate-smart development.

The CIF was created to trigger investments for immediate climate action and to facilitate learning on the technologies and methods needed to promote clean technology, renewable energy, sustainable management of forests, and climate-resilient development. The clock is ticking in the race against climate change, and we are on the move.

In Mexico, for example, $45 million from the Clean Technology Fund (CTF) has leveraged over $500 million of commercial resources to help catalyze the commercialization of Oaxaca’s wind industry. In Turkey, $149.5 million in CTF financing has attracted $1.38 billion from other sources to expand national bank lending to renewable energy and energy efficiency markets to stimulate their growth. And in Morocco, $197 million in CTF financing has played a pivotal role in launching the first phase of the 500MW Ouarzazate concentrated solar power complex by raising awareness and attracting over $1 billion in additional financing.