The New Nation - Internet Edition

AFP, New Delhi

Developing countries will have to be given economic assistance if they are to be expected to considerably reduce their greenhouse gas emissions, a top UN official said Wednesday. "We have to recognise that developing countries can only be expected to engage if economic incentives are put in place," said Yvo de Boer, executive secretary of the United Nations Framework Convention on Climate Change (UNFCC). Boer said that a few countries such as the United States and Japan have contributed several billion dollars to a climate change fund to help other nations cut their emissions. "The World Bank is working to establish a number of new financial mechanisms. They have just created a new investment facility which the US has committed three billion (dollars) tot," de Boer said at a news conference.