Billions unlocked as Green Climate Fund agrees to spend more and save less
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The Green Climate Fund (GCF) will have nearly $6 billion more to spend on emissions-reduction and climate adaptation projects in developing countries, after its board agreed to a management proposal to reduce the proportion of money it has to keep in reserve.
At a meeting in Tajikistan this week, the government representatives who make up the fund’s board endorsed the proposal to revise its financial rules so that it no longer has to set aside one dollar for every dollar it spends.
At a meeting in Tajikistan this week, the government representatives who make up the fund’s board endorsed the proposal to revise its financial rules so that it no longer has to set aside one dollar for every dollar it spends.
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