The money was used to help financ­e rapid-transi­t bus system in Karach­iPARIS: Donor governments pledged $9.8 billion in fresh financing for the Green Climate Fund, set up to help developing nations tackle global warming, the head of France’s Treasury said on Friday. “Now what is at stake is making these pledges concrete so the fund can work efficiently and disburse (money),” Renaud-Basso told journalists after the conference. The fund became operational in 2015 after governments pledged $10.3 billion in a first round of funding. That amount was later reduced to $8.3 billion after the United States announced plans to pull out of the Paris climate accord. The South Korea-based fund provides financing alongside public lenders like the World Bank or in partnership with commercial banks.

Source: The Express Tribune October 25, 2019 16:30 UTC