The Dominican Republic will chair the Green Climate Fund in cooperation with the United Kingdom

dominican republic He will chair, with the UK, the Board of Directors of the Green Climate Fund (GCF), which directs resources to developing countries assisting them in their efforts to mitigate and adapt to the effects of global warming.

This was announced today, Thursday The Ministry of Environment He confirmed in a statement that the elections took place today, Thursday, at the conclusion of the thirty-seventh meeting of the Green Climate Forum in Tbilisi, the capital of Georgia.

During the meeting, approval was reached 15 new initiatives To adapt and mitigate climate change, including Project Gaia, a hybrid financing platform that allows institutional investors to deploy commercially directed capital through local loans and hard currency.

he Gaia Project It will finance adaptation and mitigation initiatives in emerging markets to help them meet their climate priorities.

The country was represented by Deputy Minister of Climate Change and Sustainability, Milagros de Camps, who highlighted that the Gaia Project will manage US$152.5 million from which 19 countries will benefit, including Dominican Republic, Barbados, Benin, Costa Rica, Mongolia, Peru, Panama, Philippines, Kenya, Guatemala and Tanzania.

The Dominican Republic will need to allocate 5.8% of GDP to mitigate the impact of climate change

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