MOSCOW, July 21 (RIA Novosti) - Russian Prime Minister Dmitry Medvedev signed the decree allocating $15 million for the Global Environment Facility (GEF), according to a statement published on the official web portal of legal information on Monday.
“To make a contribution of up to $15 million to the trust find of the Global Environmental Facility established within the framework of the World Bank, funded with the federal budget’s appropriations,” the statement says.
The Global Environment Facility is a partnership for international cooperation addressing global environmental issues and uniting 183 countries. GEF was established in 1991 to provide new funding to ensure biological diversity, climate change, international waters, land degradation, ozone layer depletion, and persistent organic pollutants.
Since 1991, the GEF has provided $12.5 billion in grants and leveraged $58 billion in co-financing for 3,690 projects in 165 developing countries.