Climate Fund Approves $1billion For Projects In Poor Countries

A UN-backed fund has approved more than 1 billion dollars for 19 new projects to help developing countries tackle climate change. Officials overseeing the South Korea-based Green Climate Fund stated the funding approved at the meeting in Manama includes projects linked to geothermal energy in Indonesia, greener cities in Europe and West Asia, and protection for coastal communities in India. 
About the Green Climate Fund: 
  • The Green Climate Fund (GCF) is a new global fund created to support the efforts of developing countries to respond to the challenge of climate change. 
  • It was set up by the 194 countries who are parties to the United Nations Framework Convention on Climate Change (UNFCCC) in 2010. 
  • The Green Climate Fund is headquartered in the Seoul Capital Area of the Republic of Korea. 
Source- AIR World Service