Sweden to make more contribution to ADB’s Poverty and Environment Fund

ISLAMABAD : The Government of Sweden has approved an additional contribution of 15 million kroner ($2.5 million) to the Poverty and Environment Fund administered by the Asian Development Bank (ADB).
The Fund, which was established in July 2003 with initial contributions from the governments of Norway and Sweden, is a multi-donor umbrella facility focusing on small-scale environment-related interventions that promote poverty reduction.
Sweden’s new contribution will be issued in three equal installments between 2008 and 2010, said an ADB press release received here on Wednesday.
The Fund finances technical assistance projects and other activities in three main areas: protection, conservation, and sustainable use of natural resources and ecosystem services; reduction of air and water pollution; and disaster prevention and reduction of vulnerability to natural hazards.
“Sweden’s latest contribution continues support for ADB’s regional technical assistance on Mainstreaming Environment for Poverty Reduction,” said Werner Liepach, ADB’s Principal Director of the Office of Cofinancing Operations.
“This contribution will help finance efforts to identify, pilot-test, and demonstrate potentially replicable approaches that reduce poverty and improve the capacity of poor people to contribute to environmental management.”
The fund also finances research and studies that can form the basis of policy dialogue, raising awareness, and building capacity on poverty-environment links.
It also supports dissemination of lessons learned and compilation of good practices for addressing the environmental dimensions of poverty, the press release added.