December 5, 2009 12:13 PM

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Be sensitive towards growing economies: WB to rich nations

World Bank has urged rich nations to be sensitive towards the development needs of growing economies. World Bank President Robert Zoellick told reporters in New Delhi on Friday that additional resources must be provided to the developing nations to meet their needs for sustainable development. The statement, which comes just a few days ahead of the Copenhagen meet on climate change, assumes significance given that industrial nations have been seeking binding emission cuts from developing countries like India. The rich nations have also been reluctant in sharing and transfer the technologies which is being sought by the developed nations to help them move towards low carbon economy. More than 100 nations are expected to meet at the UN meet at Copenhagen that starts from 7th of December 7, to agree a new global climate deal to succeed the Kyoto Protocol in 2013. Meanwhile, India's pledge to cut emissions by 20-25 per cent by 2020 has evoked mixed response with the BJP charging the government with changing the baseline of country's negotiation position and succumbing to pressure from developed nations. On the other hand, India Inc and NGOs have welcomed the move.

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