At the recent COP-16 climate talks in Mexico, the western powers (Europe, Japan and US) made their World Bank trustee of the Adaptation fund. Apparently a status to be reviewed in 2011. http://unfccc.int/cooperation_and_support/financial_mechanism/adaptation_fund/items/3659.php
(Not having access to a TV wasnt a problem because democracy now! covered i the fortnight long conference quite well)
The World Bank is a profit seeking, local expertise decimating, unimaginative Bretton Woods institution that probably should have been kicked into last century. They get things very wrong with great frequency and their consultants absorb much of any proported financial benefit that proport to supply.
Much work needs to be done in exposing the bank's total inadequacy for the job. Its hard because there are more people working for the Bank, than against. Let alone for its superscession.
On the other hand leaders of many of the desperate at-risk countries are going to be running with open arms at this new apparent cash cow. Cash which has strings. Efforts need to be made so they negotiate most powerfully in their society's interests and promote their own ways of knowing instead of the ways that got us into this problem in the first place.
The common sense that must be broken is that which says that the countries on the periphery and semi-periphery do not and cannot have the social-political and technological capacity to adapt to the impacts of Climate Change.
This common sense inhibits the development of a truly multiversity of soci-technical profusion and promotes certain pretty alienating ways of doing technology.
Outsource eyes, play, mind and hand. Bring in the consultants, bypass local expertise. replay argument about limited local capacity.