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India increases grants to $15m to handle global environment crises

IANS  |  Da Nang (Vietnam) 

Playing a crucial role to mitigate climate change and other environmental challenges across the globe, on Tuesday announced it will increase for the next four years the money it pays to the Facility (GEF), a mechanism to provide grants for projects.

India's to Council made the announcement at its meeting in this Vietnamese city that will conclude on June 28.

Subramani, who represents in the and a of Bangladesh, Bhutan, Maldives, and Sri Lanka, besides her home country in the Council, told the gathering that has decided to increase its commitments from $12 million to $15 million to the GEF's new four-year investment cycle, known as

Naoko Ishii, who opened the meeting on June 24, thanked India for increasing its financial support, which will go to other developing countries to deal with urgent environmental crises.

Subramani also said at the council meeting that NGOs getting money for GEF projects should not remain the same over years. This point was immediately supported by the delegate from

The is meeting two months after governments, in a demonstration of confidence, approved a $4.1 billion replenishment of

GEF, established on the eve of the 1992 Rio Earth Summit to help tackle the planet's most pressing environmental problems, has provided $17.9 billion in grants and mobilised an additional $93.2 billion in financing for more than 4,500 projects in 170 countries.

India, among the world's most vulnerable countries to climate change, is both a donor and a recipient of GEF, an international partnership of 183 countries.

The will be followed be the sixth GEF Assembly (June 27-28), which meets every four years, and is expecting 1,200 participants, including heads of state, ministers, UN, NGO and business leaders.

(is in Da Nang for the Internews' Earth Journalism Network Biodiversity Fellowship Programme at the Sixth (GEF) Assembly. He can be reached at vishal.g@ians.in)

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 26 2018. 10:50 IST
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