GCF board endorses $1.2 billion to support climate actions

SEOUL, Oct. 11 (BNA) The Green Climate Fund (GCF), an international organization to combat climate change, has approved $1.2 billion to fund 13 new green energy projects, the South Korean Ministry of Finance said Monday.

South Korea’s Yonhap News Agency reported that the board of directors of the Green Climate Fund, based in Songdo in Incheon, west of Seoul, has approved a financing plan for projects to help 44 emerging countries in the fight against climate change.

The UN Climate Fund has also approved a plan to increase the number of staff in its secretariat by 2023 to better deal with the growing demand for green energy projects.

Launched in late 2010, the Green Climate Fund aims to channel money from industrialized nations to developing countries to help them tackle problems related to climate change.

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