September 26, 2008
HP-1160

McCormick Statement on the Clean Technology Fund

Washington – Undersecretary for International Affairs David H. McCormick issued the following statement on today's Clean Technology Fund pledging conference at the World Bank:

"Today's pledging conference at the World Bank was a major step forward in building the financial base of the new Clean Technology Fund, which now has the resources it needs to begin the important work of reducing greenhouse gas emissions growth in the developing world.  With more than $5 billion in proposed contributions by seven donor countries, including $2 billion the administration has requested from Congress, the Fund is now in a position to launch in October and begin financing projects by early 2009. The United States is firmly committed to the Clean Technology Fund and its mission to help developing countries make transformational investments in clean technology that will be necessary to move them onto cleaner development paths." 

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