By Frank Jordans
Berlin — A U.N.-backed fund (click here) has approved more than $1 billion for 19 new projects to help developing countries tackle climate change, officials said Sunday.
During a four-day meeting in Bahrain that ended late Saturday, officials overseeing the Green Climate Fund also agreed to start seeking fresh money next year as its initial capital of about $6.6 billion will soon be used up.
The South Korea-based fund, considered a key vehicle for climate-related development programs, was originally meant to receive over $10 billion from rich countries by 2018. But U.S. President Donald Trump’s decision to withhold $2 billion of the $3 billion pledged by his predecessor, Barack Obama, has contributed to a shortfall in its projected assets....
