[THE INVESTOR] The UN-operated Green Climate Fund has decided to inject US$ 256.6 million in climate change projects in nine developing countries, the Ministry of Strategy and Finance said July 1.
The decision was made during the 13th board meeting of the GCF, held at its headquarters in Songdo, Incheon, from June 28 to 30.
The newly approved projects include solar energy development program in Chile, projects to make coastal communities in Vietnam more resilient to climate change impacts and support small-scale farmers in Sri Lanka to protect from extreme events.
With the latest approval for funding, the total GCF funding aggregates to US$424 million in 17 projects and programs (total cost of US$1.2 billion) around the world since its initiation in 2010. GCF is established to support developing countries’ move toward-low-emission and climate-resilient development.
The next board meeting will be held on Oct. 18 in Quito, Ecuador.
The fund also is also seeking a new director who will succeed its first director Hela Cheikhrouhou, whose three-year term ends in September.
By Ahn Sung-mi (
sahn@heraldcorp.com)