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Third World needs $ 75 b a yr to protect environment
WASHINGTON. May 18 Protecting the environment tn the developing world will require huge amounts of money over the next several years but the cost well! be greater over the tong run If nothing Is done, according to a World Bank report released here Sunday, reports AFP
In Its world development report 1992. the World Bank estimated that environmental protection in the Third World will cost at least 75 billion dollar a year through the end of the century
"Falling to accept the cha) tenge will be more costly still." the report warned
The figure of 75 billion dol lar a year represents 1 4 per cent of the Gross Domestic Product of the developing nations, the World Bank said
Overall Incremental costs in the range of 2-3 per cent of GDP by 2000 would appear ap proprlatc.- the report said
While large in absolute terms, the Investments "aimed at protecting the environment will begin to pay for them selves within a few years, cl ther through increased productivity or Improved health and welfare.- it added
In any case, the developing nations may have no other choice than to pay the high cost of protecting the envl ronment. the World Bank said
"Without adequate environ mental protection, develop ment will be undermined. Environmental problems can and do present obstacles to development." the report safcl
But while environmental programmes may prove to be sound economic policy, the Third World nations cannot foot the bill by themselves and the developed countries will have to contribute, not only ft nanclaliy but by speeding the transfer of technology that Is teas polluting, the World Bank said
In order to meet the challenge. the report proposes the creation of a realistic global plan that will link economic development to environmental protection
The key to sustainable growth Is not to produce less, out to produce differently,' the report said The challenge Is to ensure that the past links between economic growth and a deteriorating environment are broken."
The World Bank warns, however, that a successful long-term plan to protect the environment In developing countries will demand some sacrifices.
There may be situs lions requiring trade offs between Income growth and protection of the environment," the report said "Strong public institutions and environmental protection policies are essential."
Any global plan mutt In-
clude the means for reducing poverty, which plagues many Third World countries.
"Alleviating poverty is a moral Imperative and a prerequisite for environmental sustainability.* the report said. The poor are both the main victims and among the agents of environmental damage."
While pointing out all the possible obstacles, the World Bank's report remains optl mlstlc due to the rising degree of awareness around the world to the threats of a detertorat Ing environment The present time is unprecedented in Its potential for change", the report said
World leaders are to gather tn Rio de Janeiro next month for a UN - sponsored earth summit and the World Bank urged the participants to make a serious effort to come to an agreement on ways to protect the environment