Green Climate Fund

GCF to distribute $6.2 billion to help reduce planet-heating emissions and enhance climate resilience.

Last week, the Green Climate Fund promised developing nations it will ramp up efforts to help them tackle climate challenges as they strive to recover from the pandemic, approving $879 million in backing for 15 new projects around the world.

At a four-day virtual board meeting, the fund added Afghanistan and Sudan to a list of more than 100 countries receiving a total of $6.2 billion to reduce planet-heating emissions and enhance climate resilience.

The Green Climate Fund (GCF) was set up under U.N. climate talks in 2010 to help developing nations tackle global warming, and started allocating money in 2015. Executive Director Yannick Glemarec said the fund had "a key role to play to maintain climate ambition" and would aim to improve the speed and efficiency of its response to developing country needs.

Board co-chair Nauman Bashir Bhatti, from Pakistan, said climate finance would be crucial for recovery from the pandemic and the fund needed to increase support "even during these difficult times".

Fiji's U.N. Ambassador Satyendra Prasad said "The importance of the (GCF) ... in accelerating transformative climate action in this present decade cannot be understated," he added.

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