Green Climate Fund Board meets in Paris to finalize business model framework

Board will spend three busy days in Paris and is expected to make concrete decisions on the institutional capacity of the Fund

Oct 07, 2013 04:10 IST India Infoline News Service

The Board of the Green Climate Fund meets this week in Paris to progress the setup of the Fund, which will channel funds to developing countries to act on climate change.

Ms. Héla Cheikhrouhou will attend her first Board meeting as the Fund’s inaugural Executive Director, a meeting which will be the last one in the Fund’s interim phase.

The Board will spend three busy days in Paris (8-10 October), and is expected to make concrete decisions on the institutional capacity of the Fund in readiness for the Fund’s move to its permanent headquarters in Songdo, Incheon City, Republic of Korea.

In particular, the Board will complete its consideration of the Fund’s business model framework, which will include discussions of financial sources, options for measuring results and possible delivery approaches.

The meeting will also consider launching readiness and preparatory activities that will stimulate developing countries to benefit from the Fund and use the Fund’s resources to initiate a paradigm shift towards low-emission and climate-resilient development.

With the term of the first Co-Chairs coming to an end, Co-Chairs for the next term will be elected at the meeting by the twenty-four member Board, drawn from developed and developing countries.

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