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Negotiators Eye Green Climate Fund Agreement in Durban

Delegates at the UN climate change conference in Durban, South Africa say the negotiations should end with an agreement to launch the Green Climate Fund (GCF) needed to adapt and mitigate the effects of climate change.

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Delegates at the UN climate change conference in Durban, South Africa say the negotiations should end with an agreement to launch the Green Climate Fund (GCF) needed to adapt and mitigate the effects of climate change.

The almost unanimous position on Green Climate Fund signals an end to the deadlock that threatened to derail the negotiations at the beginning of the conference last week.

The Green Climate Fund being advocated for by developing countries like Uganda is designed to channel hundreds of billions of dollars from developed to less developed countries.

David Obong, the water and environment ministry permanent secretary in an interview said the Ugandan delegation wants to leave Durban when structures have been established to kick off the Green Climate Fund.

Obong says the Green Climate Fund, if approved, would greatly help developing countries combat the effects of climate change.

 

Obong’s aspirations were also echoed by UN Secretary General, Ban Ki-Moon and Ethiopian Prime minister, Meles Zenawi while speaking at the session on mobilizing finance for least developed countries.

Zenawi said it would be crucial for the Durban negotiators to establish structures for the administration of the fund and then mobilize money from developed countries.

//Cue In: “I think the first step is to establish ……..

Cue Out: …..don’t need to reinvent the wheel”//

UN secretary general, Ban Ki-Moon said the fund must take off even with the current economic problems.

//Cue in: “I can not….

Cue out:…….resolved here in Durban”//

The green climate fund once established will require rich nations to contribute $100 billion per year by 2020 to help developing countries fight against climate change.

The next step would be the composition of a board to run the fund which in the transitional period is to be managed by World Bank.

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