France to Allocate $1 Billion to UN's Green Climate Fund

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France will donate one billion dollars to the United Nations’ Green Climate Fund, President Francois Hollande said Tuesday.

PARIS, September 23 (RIA Novosti) – France will donate one billion dollars to the United Nations’ Green Climate Fund, President Francois Hollande said Tuesday.

"France will contribute a billion dollars over the next few years," the French leader said at the UN climate summit in New York as quoted by Agence France-Presse. The 750 million euro contribution is planned to be distributed over the next four years.

UN Secretary-General Ban Ki-moon said he would like to see more countries making "bold pledges" in support of climate change at the New York Climate Change Summit. However, only a few countries have offered funds so far, Reuters reports.

Apart from France, South Korea and Germany have promised to make contributions to help the UN fight climate change. South Korean President Park Geun-hye said her country would donate up to $100 million, while German Chancellor Angela Merkel pledged $1 billion on behalf of Germany, according to Reuters.

The Green Climate Fund is an international fund established to help developing countries fight climate change. Its headquarters were officially opened in Songdo, South Korea in 2013.

 

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