Why in news?
The $100-billion Green Climate Fund will soon become operational in India and the process of accrediting organisations which can access the funds is going on.
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| Source: The Green Market Oracle |
What i the Green Climate Fund?
COP 16 established a Green Climate Fund (GCF) as an operating entity of the Financial Mechanism of the UNFCCC. The GCF will support projects, programmes, policies and other activities in developing country Parties. The Fund is governed by the GCF Board.
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| Source: Euractiv |
How will it work?
The fund would be made available to organisations such as NABARD that made development investment decisions and NGOs might not qualify.
[Source: UNFCCC, The Hindu]
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