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Green Climate Fund Readiness Programme launched in Nepal

A wind turbine is seen near the village of Piansano, 90 km (60 miles) north of Rome, April 16, 2012. Several European Union nations have been scaling back subsidies for renewable energy, including solar, as they try to pare back public spending amid the EU sovereign debt crisis. The Italian government said last week it will cut financial incentives for solar and other renewable energy, unleashing an outcry from investors who say the changes will slow the industry's growth in Italy. To match Interview SOLAR-FUND/ REUTERS/Max Rossi (ITALY - Tags: ENERGY BUSINESS)
A wind turbine is seen near the village of Piansano, 90 km (60 miles) north of Rome, April 16, 2012. Several European Union nations have been scaling back subsidies for renewable energy, including solar, as they try to pare back public spending amid the EU sovereign debt crisis. The Italian government said last week it will cut financial incentives for solar and other renewable energy, unleashing an outcry from investors who say the changes will slow the industry's growth in Italy. To match Interview SOLAR-FUND/ REUTERS/Max Rossi (ITALY - Tags: ENERGY BUSINESS)

Kathmandu: The United Nations Development Programme (UNDP) and the Ministry of Finance has signed a new project to support the Government of Nepal in strengthening its national capacities to access, manage, deploy and monitor climate finance received from the Green Climate Fund (GCF).

This project is part of a larger green climate fund readiness programme, with a total allocation of 1.5 million dollars that is being implemented in partnership with United Nations Environment Programme (UNEP), reports eKantipur.

The ‘Green Climate Fund Readiness Programme for Nepal’ funded by the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB), will enable Nepal to effectively access funds from the GCF, the largest global climate financing mechanism.

Nepal is the fourth most vulnerable country in terms of climate-related risks.

The project is expected to help Nepal effectively mobilise resources and respond to challenges presented by climate change. (ANI)

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