World’s Biggest Climate Fund Makes Its Largest Water Investment
- Green Climate Fund pledges $235 million to S. African program
- Program is an attempt to spur private investment in water
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The world’s biggest global climate fund has made its largest bid yet to encourage private investors to spend money on water projects in countries hit by climate change.
The $235 million Green Climate Fund has contributed to a water reuse funding facility in South Africa is expected to help create a program of almost $1.5 billion. The Water Reuse Programme will be run by the state-owned Development Bank of Southern Africa.