A new $140 million fund to boost climate resilience in cities in six Asian countries was launched on Friday by the Rockefeller Foundation, the UK government, and the Asian Development Bank.
The Urban Climate Change Resilience Partnership aims to protect 2.2 million poor and vulnerable people from climate and disaster risks by 2021.
The money will be spent on physical infrastructure such as drainage, safer housing, flood protection and wastewater systems, as well as “soft investments”, including improved surveillance and early warning, updated building codes, and water and land-use planning.
The fund, which is also expected to leverage at least $1 billion in additional public and private investment, will be available to local governments and non-profits in 25 medium-sized cities in Bangladesh, India, Indonesia, Pakistan, Philippines and Vietnam.
(READ the REUTERS story from Trust.org)