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ENVIRONMENT:  Climate change HQ  locating in Panama

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Posted 20/10/2019

Panama will become home to the world’ second headquarters of the Green Climate Fund in 2020

The fund  (GCF) was created in 2010 within the framework of the United Nations Convention on Climate Change, as a mechanism to assist developing countries in the implementation of practices of adaptation to climate change and mitigation of its effects.

Panamanian Vice Minister of Environment, Jorge Luis Acosta, said that the installation of the new headquarters of the Fund, which so far has one center " in South Korea, "makes Panama a global focus for the establishment of, The fact that its offices are in the country makes it easier for us to negotiate and monitor our projects," said the Panamanian vice minister.

According to the  Ministry, the headquarters of the Green Climate Fund will be ready, next year and located in the City of Knowledge, that already houses United Nations offices.

In March 2018, the executive director of the Green Climate Fund, Howard Bamsey, announced in Bogotá that the entity had approved about $350 million dollars for "climate financing" in Latin American countries.

"The board made the decision to approve almost 350 million dollars in climate financing for Latin American countries and that leverages more than a billion dollars in co-financing of other projects," said Bamsey

 

https://www.newsroompanama.com/environment/environment-climate-change-hq-locating-in-panama-1

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Lot's of money !   Question will be who will be in charge of money management and financial oversight to prevent corruption.  Then, who will be in charge of watching the watchers  as millions and billions of dollars was mentioned .

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1 hour ago, Brundageba said:

Question will be who will be in charge of money management and financial oversight to prevent corruption.  Then, who will be in charge of watching the watchers  as millions and billions of dollars was mentioned .

The same people who have been administrating the fund for the last 10 years, I would imagine.

 https://www.greenclimate.fund/who-we-are/about-the-fund

The only thing new here is a presence in Panama.  I'm thinking the employment opportunities are good for the country.

 

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