SEOUL, The Green Climate Fund (GCF), an international organization on fighting climate change, has approved US$380 million in funding for four green projects in 29 nations, South Korea's finance ministry said Thursday.
The board of the GCF endorsed the funding plan for four projects meant to better respond to climate change, including supporting 19 emerging nations in building infrastructure for water resource management and prevention of marine pollution, according to the Ministry of Economy and Finance.
The projects also include supporting an e-mobility program for sustainable cities in Latin America and the Caribbean regions.
The decision was made during five days of board meetings in Incheon, 30 kilometers west of Seoul, that began Saturday.
The board also launched the process for the fund's replenishment for the 2024-2027 period, according to the ministry.
The GCF, launched in 2010 in Incheon's Songdo, aims to channel money from industrialized nations to developing countries to help them tackle climate change-related problems.
Source: Yonhap News Agency