UN Green Fund to Pay Quarter of Money to Islands, Africa
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The UN Green Climate Fund, set up to help finance projects that cut emissions in poorer nations and help them adapt to a warming planet, will pay at least a quarter of its money to the most vulnerable nations.
The fund was set up by the United Nations to help channel some of the $100 billion a year of climate aid that developed countries have pledged to provide by 2020. The fund remains uncapitalized while its board finalizes how it will operate. It plans its initial fund-raising later this year.