MANILA, Philippines?The World Bank (WB) is under fire for ?colluding? with officials of the Department of Public Works and Highways (DPWH) and the weather bureau to get a mandate for a $15-million fund from a global climate change facility which the Philippines could have accessed without using an intermediary.
In a privilege speech, Senate President Juan Ponce Enrile on Monday said the WB?s deal to act as a conduit to access the United Nation?s Adaptation Fund could burden the country with even more loans.
?By inserting itself as an intermediary, thereby pushing the Philippines to use the multilateral modality, it appears that the World Bank is undermining Philippine intentions to promote and operationalize the direct access modality in its efforts to gain access to, or avail of, the Adaptation Fund,? Enrile said.
The UN Adaptation Fund was approved three years ago so that poor countries could have access to funds for programs that would help them cope with the devastating effects of climate change.
According to Enrile, the Fund has a special feature which gives developing countries like the Philippines direct access to it without needing a conduit like the WB.
He said the Philippines should have nominated a local institution as a national implementing entity.
Enrile said the climate finance-related arrangement ?at face value appeared to be extremely disadvantageous to our people?s interests.? He thus called for a Senate investigation.