On Thursday, Norway signed an agreement to support the Green Climate Fund (GCF) with NOK 3.2 billion from 2020 to 2023.
Norway’s support for the fund is thus doubled. This is Norway’s biggest aid agreement with a multilateral climate organization, according to the government.
“The Green Climate Fund has delivered good results in developing countries, which is why we are now increasing support to the Fund from 400 million per year to 800 million per year,” said Minister of Development Dag-Inge Ulstein (KrF).
With this, Norway becomes the sixth largest donor to the fund and third largest donor per capita.
“The money will go to projects in developing countries that cut greenhouse gas emissions and ensure adaptation to climate change,” explained Minister of Climate and Environment Ola Elvestuen (V).
The leader of the Green Climate Fund, Yannick Glemarec, would be in Oslo on Thursday to sign the agreement. Norad’s new director Bård Vegar Solhjell would ink the deal on behalf of Norway.
The Green Climate Fund (GCF), established in 2010 by the UN Climate Change Convention, helps developing countries limit or reduce their greenhouse gas emissions and adapt to climate change.
© NTB Scanpix / #Norway Today