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Global climate fund: Pledges reach about $11b

WT24 Desk

France’s finance minister says pledges to replenish an international fund meant to help poor nations tackle climate change will reach nearly 10 billion euros ($11 billion), Agencies report.

Finance Minister Bruno Le Maire, speaking at a conference in Paris set to replenish the Green Climate Fund, said “it’s a great success.”

He added “this is a European success,” noting that almost half of the amount is provided by France, Germany and Britain alone.

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 at the fund that other countries have struggled to fill.

The meeting takes place a little over a month before the U.N.’s annual climate conference, which will be held in Santiago, Chile, this year.

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