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World environment fund gets US$3 billion funding lift

An UN-managed fund designed to protect the global environment from catastrophic threats has received a record funding boost of US$3.13 billion, officials said on Monday.
The World Bank said donors' record contribution to the Global Environment Facility (GEF) could not be better timed as ecological “red flags” mount, including climate change, loss of species, land degradation and pollution.

 “The global environment is facing unprecedented threats, and these funds have to be translated rapidly into projects, programmes and policies that make a difference in developing countries,” said the GEF's chairwoman, Monique Barbut.

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