Togo paves the way to secure funds from Green Climate Fund

Economic governance
Tuesday, 16 October 2018 15:27
Togo paves the way to secure funds from Green Climate Fund

(Togo First) - Togo now has an institutional framework enabling it to secure financing from the Green Climate Fund (GCF). A quite significant milestone considering that in May 2017, the country was not yet ready to access the financing, according to André Johnson, Togo’s minister of environment and forest resources.

During a council of ministers held on 12 October 2018, the government assessed and adopted the decree related to the creation, organization and functioning of the above-mentioned institutional framework.

The Green Climate Fund is a fund established in 2010 within the framework of the UNFCCC which helps finance projects and programs initiated by developing countries to limit or reduce greenhouse gas (GHG) emissions, and in their adaptation to climate change.

This fund which is very important for implementing the Paris Agreement on Climate Change, helps provide financing in various forms, including loans, subsidies, equity deals and guarantees to developing countries.

Let it be noted that the current decree was adopted a few days ahead of the 21st board meeting of GCF which will begin October 11 and close October 20. On this occasion, the fund will examine 20 financing proposals, worth $1.15 billion.

Fiacre E. Kakpo

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