World Bank Approves First Climate Change Development Policy Loan
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25 May 2010: The World Bank approved its first development policy loan dedicated to climate change mitigation and adaptation, in Indonesia.
The US$200 million project, titled “Climate Change DPL,” is designed to support the Indonesian Government in its efforts to adopt a lower carbon, more climate-resilient growth path. The expected climate change impacts on Indonesia include: sea level rise; changing weather patterns; increased food insecurity; decline in agricultural productivity; water scarcity; intensification of water- and vector-borne diseases; and deterioration of coral ecosystems.
The policy loan focuses on: addressing the need to mitigate Indonesia’s greenhouse gas (GHG) emissions; enhancing adaptation and resiliency efforts in key sectors; and strengthening the institutions and policies needed for a successful climate change response. The Climate Change DPL marks the first in a planned series of four annual loans of similar value. [World Bank Press Release]