The LDCF is the only source of funds for climate resilience for the 46 least developed countries in the world.
A group of twelve Western governments has committed 413 million dollars (356 million euros) to contribute to climate resilience through the Least Developed Countries Fund (LDCF), it was reported this Tuesday at the COP26 climate summit.
The governments of Canada, Denmark, Estonia, France, Germany, Ireland, the Netherlands, Sweden, the USA, Switzerland, Belgium and the Belgian region of Wallonia contribute to this funding, which is managed by the Global Environment Facility (GEF , in English).
According to a statement, the LDCF is the only source of funds for climate resilience that the 46 least developed countries in the world have.
The Netherlands will increase its current contribution to the fund of € 55 million by an additional € 25 million; The US will contribute 25 million dollars (21.5 million euros) and Sweden has committed 15 million dollars (13 million euros) for this year, although it will raise the figure in 2022, among other announcements.
“I am delighted with the great show of support for the LDCF, which stands out as a source of support for the world’s most vulnerable countries. Today’s commitments will make an immediate difference where the risks of climate change are greatest,” said the President of the GEF, Carlos Manuel Rodríguez.
According to Rodríguez, these funds must be increased to “close the climate gap” and fulfill the objective of the Paris Agreement of increasing the resilience of all countries.
Since 2001, the LDCF has allocated 1.7 billion dollars (1,468 million euros) to projects to reduce the climate vulnerability of more than 50 million people in the most disadvantaged countries, according to the note. (I)
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