World Bank hopes dev nations gets financial package at Copenhagen

World Bank today expressed hope that the promised financial package and technology transfer from the developed world to the developing nations to combat global warming makes headway during the UN summit on climate change in Copenhagen in December.

"This (monetary package and technology transfer) has to come out of the negotiations in Copenhagen which will decide on a post-Kyoto framework," Muthukumara S Mani, Senior Environmental Economist, World Bank told PTI in an interview.

"The institution (WB) is neutral to negotiating position of countries and will be guided by UN Framework Convention of Climate Change (UNFCCC)," he said admitting that the promised monetary help and technology transfer is yet to happen.

As per Kyoto pact, Annexure I (industrial) countries are committed to provide financial monetary and technological help to the developing countries for mitigation and adaptation to climate change.

Mani, who heads the Bank's Sustainable Development Department said, the institution is ready to help India and other developing countries cut down their carbon emissions causing climate change.

"It can support through analytical work and is taking lead on Low Carbon Growth studies in Mexico, Brazil, India, South Africa and China," he added.