U.N.’ s Green Climate Fund approves eight new projects

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U.N.’ s Green Climate Fund approves eight new projects

The Green Climate Fund, the Korea-based United Nations climate fund aimed at helping poor nations fight global warming, has approved eight new projects worth $755 million, according to the organization Friday. The approval, which was made at the fund’s board meeting in Korea on Thursday, brought its total portfolio to 43 projects and programs worth $2.2 billion.

Among the projects is a $86 million hydro-power development program for the Tina River in the Solomon Islands. Korean firms, including the state-run Korea Water Resources Corp. and Hyundai Engineering, joined the Tina River project, according to Korea’s finance ministry.

Other new projects included renewable energy and energy efficiency programs across five regions: one each in Africa, Latin America, the Caribbean, Middle East and North Africa. YONHAP

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