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
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.