Antony Sguazzin of Bloomberg reports that a top green fund has backed deforestation-free crops with $189 million.
- The $12.8 billion Incheon, South Korea-based Green Climate Fund will support agriculture that doesn’t cause deforestation, an issue that has become prevalent especially in developing nations.
- Six of the eleven recipients of the $189 million grant are in Africa and include Zambia, Democratic Republic of Congo, and Cameroon.
- The Green Fund’s efforts are a testament to the power of private capital in promoting environmental solutions.
“The money provided by the Green Climate Fund comprises grants, loans, private sector co-financing, and will be deployed to a bigger facility that has $981.6 million in financing. The &Green fund will ensure agricultural companies that benefit from it contractually commit to sustainable farming practices and protecting and restoring forests, Sinha said.”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
