Developed countries made far-reaching commitments to developing countries at the Bonn Conference.
Bonn (dpa) – Poorer countries will receive at least $9.322 billion (€8.9 billion) from industrial countries in the coming years to fight climate change and its consequences. Donor countries have pledged the money to the Green Climate Fund to finance projects in emerging and developing countries between 2024 and 2027, the German Federal Ministry for Economic Cooperation and Development said after a conference hosted in Bonn, Germany.
As a result, a total of 25 countries have pledged, with a further five countries announcing plans to do so in the near future. Development Minister Svenya Svenya said she hoped to achieve this goal before the World Climate Change Conference in Dubai at the end of this year, but it was too early to make a final assessment. On behalf of the German government, German Chancellor Olaf Scholz reiterated his commitment to provide €2 billion for this round of financing for the fund.
The fund provides grants, loans, guarantees and equity to developing countries to combat the effects of climate change, and it also accepts private donations. According to the federal Ministry for Economic Cooperation and Development, 228 projects have been funded so far.