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Mafalda Duarte, the chief of the Green Climate Fund (GCF), is prioritizing aid for vulnerable nations that have not yet received funding.
The fund has identified 19 nations with limited funding, emphasizing efforts to support these countries in reducing greenhouse gas emissions and adapting to climate impacts.
Green Climate Fund (GCF)
The Green Climate Fund (GCF) is a critical player in the global fight against climate change.
Established in 2010 under the UNFCCC, the GCF channels financial resources to developing countries for climate mitigation and adaptation efforts.
Projects and programs funded by the GCF are proposed and driven by developing countries themselves, aligning with their national priorities and needs.
The GCF offers grants, concessional loans, guarantees, and equity instruments to cater to diverse project needs and leverage additional funding from public and private sources.
GCF's primary objective is to assist developing countries in achieving their Nationally Determined Contributions (NDCs) - national climate action plans under the Paris Agreement.
The fund prioritizes projects that reduce greenhouse gas emissions, build resilience to climate impacts, and promote sustainable development.
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