The world’s largest climate fund approved a record-breaking $3.2 billion this year for projects in developing countries, marking an unlikely infusion of money as nations scale back international aid.
The funding from the United Nations Green Climate Fund surpassed its previous high of $2.9 billion in 2021.
More than $1.3 billion alone was approved during a board meeting this week. That money will flow to nearly two dozen projects ranging from water desalination in Jordan to forest protection in the Amazon. In total, the fund has committed nearly $20 billion since it began disbursing money 10 years ago.
“The fact that GCF at this point in time is actually delivering at record levels, precisely signals that we can deliver,” said Mafalda Duarte, executive director of the fund.
