The Inter-American Development Bank (IDB) has approved US$250 million in financing to help Guatemala fight climate change after tropical storm Agatha and the eruption of the Pacaya volcano took at least 235 lives this year and caused an estimated $1 billion in damage. Guatemala is listed by the United Nations as the world’s fourth most vulnerable country to natural disasters induced by climate change. The new funds will be used to implement a national climate-change and disaster-risk policy, create units to draft climate policies within the finance and environment ministries, and develop a carbon-offset strategy, the Washington-based IDB reports. The eruption and storm in May forced the evacuation of 208,000, destroyed nearly 15,000 homes, caused major damage to roads... [Log in to read more]