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Development Bank Southern Africa Starts Climate Finance Facility

  • Lender gets $55.6 million from UN’s Green Climate Fund
  • Money to assist developing countries respond to climate change
Mai Jok Luang Reservoir Declared Dry As Drought Continues

Photographer: Taylor Weidman/Bloomberg

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The Development Bank of Southern Africa said it was awarded $55.6 million of funding from a unit of the United Nations to set up a 2 billion rand ($140 million) Climate Finance Facility.

The money was made available from the Green Climate Fund, a mechanism of the United Nations Framework Convention on Climate Change, to support developing countries in responding to climate change, the lender said in an emailed statement.