Lagos, Aug 28, 2008 -- This Day/All Africa Global Media

The World Bank yesterday in Accra said that a total of 170 billion dollars (N20 trillion) was required between now and 2030 to enable developing countries mitigate and adapt to the impact of climate change.

World Bank Fund Manager, Carbon Finance Unit, Mr Eduardo Dopazo, told newsmen on the sidelines of the on-going Accra Climate Change Talks that the private sector was expected to account for 80 per cent of the sum.

"The huge financing gap for developing countries to contain the impact of climate change is beyond current funding under the UN Framework Convention on Climate Change," he said.

He said that developing countries would also require 85 billion dollars (N10 trillion) to provide electricity that would cover 100 per cent of their citizens by 2030.

"An additional 35 billion dollars (N4.1 trillion) per year was require to ensure that the electricity utilise green energy technologies," News Agency of Nigeria (NAN) correspondent covering the meeting quoted him as saying.

He said that within the same period, developing countries would require massive technology transfer, capacity building and technical assistant to manage whatever green technology was adopted.

He said that the situation would require that developing countries take commitments under the post Kyoto protocol treaty expected to be ratified at Copenhagen.

Also speaking to newsmen, UNFCCC Executive Secretary, Mr Yvo de Boer, said that the Global Environment Facility has funded projects worth more than 378 million dollars (N44.6 billion) in Africa in the last 17 years.

"To put this in perspective, the total value of projects funded worldwide under the Clean Development Mechanism (CDM) is more than 2.4 billion dollars (N28.3 billion)," he said.

Boer said that 271 project in 50 countries benefited from the facility adding that Africa was still lagging behind in project proposal and execution.

"Only 27 projects are located in Africa with India and China accounting for the bulk of projects under the CDM," he said.

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