Green Climate Fund expands support to more than 100 developing states

(Reuters News, 14 Nov 2019) Countries from Mozambique to Nepal, Kyrgyzstan, Paraguay and China get support.

The Green Climate Fund, which provides finance for developing nations to tackle climate change, said on Thursday it had reached a milestone of backing action in more than 100 countries, after approving $408 million for new projects.

At a three-day board meeting in South Korea this week, the international fund - which replenished its coffers with pledges of nearly $9.8 billion last month - agreed to allocate money to 13 projects, from water banks in thirsty northern Gaza to protecting food crops from climate threats in Mozambique.

Board co-chair Nagmeldin Goutbi Elhassan Mahmoud said fresh contributions made by 28 donor countries last month would help meet growing demand for initiatives to cut climate-warming emissions and adapt to wilder weather and rising seas.

At this week's meeting, a further boost came from Indonesia, which pledged $500,000, doubling its first contribution.

The fund is now investing $5.6 billion in more than 100 countries worldwide.

"Developing countries' rising ambitions, however, shows that much more can be done," Mahmoud of Sudan said in a statement, referring to the work of the fund.

External link

Reuters News, 14 Nov 2019: Green Climate Fund expands support to more than 100 developing states